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Davidson County/Nashville/37216

37216

ZIPSAFMR
Davidson County, TN
Zillow

ZIP Investment Score

66Below average

095130300
BRFMR
Eff. Rent
0 BR$1,650$1,340
1 BR$1,720$1,590
2 BR$1,870$2,060
3 BR$2,400$2,500
4 BR$2,910$3,200
5 BR$3,346Not available
6 BR$3,848Not available
7 BR$4,426Not available
8 BR$5,090Not available

Purchase Price Calculator

Maximum purchase price
$244,199

Cost breakdown

+Likely effective rent$2,060
HUD FMR$1,870
Market rent$2,200
Est. payment standard (110%)Used$2,060
-Principal and interest-$1,235
Loan amount$195,359
Down payment$48,840
Rate6.50%
Term30 years
-Operating costs-$625
Property taxes-$244
Insurance-$175
Utilities$0
HOA$0
Management-$206
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,976(67.5% ROI)
Projected value
$262,975
Return breakdown
Property appreciation+$18,777
Loan principal paid down+$6,999
Rental cash flow+$7,200
5-year hold
+$56,571(115.8% ROI)
Projected value
$276,288
Return breakdown
Property appreciation+$32,090
Loan principal paid down+$12,482
Rental cash flow+$12,000
10-year hold
+$122,137(250.1% ROI)
Projected value
$312,595
Return breakdown
Property appreciation+$68,396
Loan principal paid down+$29,741
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.23
1 BR
1.08
2 BR
0.85
3 BR
0.94
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 37216 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37216 (Nashville, TN) is $1,870 a month. That is up 3.3% from $1,810 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, 37216 is tied for the 19th-highest two-bedroom rent (county range $1,210–$2,700). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37216 is 78% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37216
BedroomsFY 2027Change90–110% range
Studio$1,650+4.4%$1,485–$1,815
1BR$1,720+4.2%$1,548–$1,892
2BR$1,870+3.3%$1,683–$2,057
3BR$2,400+3.9%$2,160–$2,640
4BR$2,910+3.2%$2,619–$3,201

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37216
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,650$1,720$1,870$2,400$2,910
FY 2026$1,580$1,650$1,810$2,310$2,820
FY 2025$1,640$1,710$1,890$2,390$2,940
FY 2024$1,430$1,470$1,650$2,070$2,530
FY 2023$1,240$1,270$1,430$1,790$2,210

Two-bedroom rent in nearby Davidson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 37216
37210$1,660−11.2%
37211$1,860−0.5%
37212$1,890+1.1%
37213$1,8700.0%
37214$2,050+9.6%
37215$2,240+19.8%
37216Current$1,870—
37217$1,860−0.5%
37218$1,720−8.0%
37219$2,560+36.9%
37220$2,230+19.3%
37221$2,130+13.9%

Questions about ZIP 37216 rents

How much will Section 8 pay for a two-bedroom in ZIP 37216?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,870, that basic range is $1,683 to $2,057 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 37216 in?

ZIP 37216 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 37216 for FY 2027?

The two-bedroom FMR rose 3.3%, from $1,810 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 30.8%.

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 rentNashville, TN fair market rentTN statewide rentsWhat is SAFMR?Data sources