Davidson County/Nashville/37208

37208

ZIPSAFMR

Davidson County, TN

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ZIP Investment Score

77Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,710	$1,180	15.8%
1 BR	$1,780	$1,270	16.4%
2 BR	$1,940	$1,810	15.2%
3 BR	$2,490	$2,470	16.1%
4 BR	$3,020	$3,080	15.5%
5 BR	$3,473	Not available	15.5%
6 BR	$3,994	Not available	15.5%
7 BR	$4,593	Not available	15.5%
8 BR	$5,282	Not available	15.5%

Purchase Price Calculator

Maximum purchase price

$207,049

Cost breakdown

+Likely effective rent$1,810

HUD FMR$1,940

Market rentUsed$1,810

Est. payment standard (96%)$1,860

-Principal and interest-$1,047

Loan amount$165,639

Down payment$41,410

Rate6.50%

Term30 years

-Operating costs-$563

Property taxes-$207

Insurance-$175

Utilities$0

HOA$0

Management-$181

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$29,055(70.2% ROI)

Projected value

$222,969

Return breakdown

Property appreciation+$15,920

Loan principal paid down+$5,934

Rental cash flow+$7,200

5-year hold

+$49,791(120.2% ROI)

Projected value

$234,257

Return breakdown

Property appreciation+$27,208

Loan principal paid down+$10,583

Rental cash flow+$12,000

10-year hold

+$107,208(258.9% ROI)

Projected value

$265,040

Return breakdown

Property appreciation+$57,991

Loan principal paid down+$25,217

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.45ratio

FMR$1,710

Market$1,180

vs market+$530

FMR is above market; underwrite to market rent.

1.45

1 BR

1.40ratio

FMR$1,780

Market$1,270

vs market+$510

FMR is above market; underwrite to market rent.

1.40

2 BR

1.07ratio

FMR$1,940

Market$1,810

vs market+$130

FMR is near market; voucher and private rents are aligned.

1.07

3 BR

1.01ratio

FMR$2,490

Market$2,470

vs market+$20

FMR is near market; voucher and private rents are aligned.

1.01

4 BR

0.97ratio

FMR$3,020

Market$3,110

vs market-$90

FMR is near market; voucher and private rents are aligned.

0.97

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 37208 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37208 (Nashville, TN) is $1,940 a month. That is up 3.2% from $1,880 in FY 2026. Nashville is in the Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 49 ZIP codes in Davidson County, 37208 has the 16th-highest two-bedroom rent (county range $1,210–$2,700). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37208 is 85% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37208
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,640	$1,710	+4.3%	$1,539–$1,881
1BR	$1,720	$1,780	+3.5%	$1,602–$1,958
2BR	$1,880	$1,940	+3.2%	$1,746–$2,134
3BR	$2,400	$2,490	+3.8%	$2,241–$2,739
4BR	$2,930	$3,020	+3.1%	$2,718–$3,322

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37208
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,710	$1,780	$1,940	$2,490	$3,020
FY 2026	$1,640	$1,720	$1,880	$2,400	$2,930
FY 2025	$1,670	$1,730	$1,920	$2,430	$2,980
FY 2024	$1,100	$1,130	$1,270	$1,590	$1,960
FY 2023	$980	$990	$1,130	$1,430	$1,780

Two-bedroom rent in nearby Davidson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 37208
37202	$1,840	−5.2%
37203	$2,140	+10.3%
37204	$2,300	+18.6%
37205	$2,260	+16.5%
37206	$1,870	−3.6%
37207	$1,500	−22.7%
37208Current	$1,940	—
37209	$2,030	+4.6%
37210	$1,660	−14.4%
37211	$1,860	−4.1%
37212	$1,890	−2.6%
37213	$1,870	−3.6%

Questions about ZIP 37208 rents

How much will Section 8 pay for a two-bedroom in ZIP 37208?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,940, that basic range is $1,746 to $2,134 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 37208 in?

ZIP 37208 is in the Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 37208 for FY 2027?

The two-bedroom FMR rose 3.2%, from $1,880 in FY 2026 to $1,940 in FY 2027. Since FY 2023 it has risen 71.7%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent Nashville, TN fair market rent TN statewide rents What is SAFMR?Data sources