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Davidson County/Nashville/37234

37234

ZIPFMR
Davidson County, TN
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,585$1,620
1 BR$1,650$1,820
2 BR$1,798$1,980
3 BR$2,309$2,540
4 BR$2,799$3,080
5 BR$3,219Not available
6 BR$3,702Not available
7 BR$4,257Not available
8 BR$4,895Not available

Purchase Price Calculator

Maximum purchase price
$232,311

Cost breakdown

+Likely effective rent$1,980
HUD FMR$1,798
Market rent$2,380
Est. payment standard (110%)Used$1,980
-Principal and interest-$1,175
Loan amount$185,849
Down payment$46,462
Rate6.50%
Term30 years
-Operating costs-$605
Property taxes-$232
Insurance-$175
Utilities$0
HOA$0
Management-$198
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,721(68.3% ROI)
Projected value
$250,173
Return breakdown
Property appreciation+$17,863
Loan principal paid down+$6,659
Rental cash flow+$7,200
5-year hold
+$54,401(117.1% ROI)
Projected value
$262,838
Return breakdown
Property appreciation+$30,528
Loan principal paid down+$11,874
Rental cash flow+$12,000
10-year hold
+$117,360(252.6% ROI)
Projected value
$297,377
Return breakdown
Property appreciation+$65,067
Loan principal paid down+$28,293
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.97
1 BR
0.81
2 BR
0.76
3 BR
0.82
4 BR
0.66
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 37234 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 37234 (Nashville, TN) is $1,798 a month. That is up 3.9% from $1,730 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. The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37234 is 72% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37234
BedroomsFY 2027Change90–110% range
Studio$1,585+5.2%$1,427–$1,744
1BR$1,650+4.6%$1,485–$1,815
2BR$1,798+3.9%$1,618–$1,978
3BR$2,309+4.4%$2,078–$2,540
4BR$2,799+3.8%$2,519–$3,079

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37234
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,585$1,650$1,798$2,309$2,799
FY 2026$1,507$1,578$1,730$2,211$2,696
FY 2025$1,589$1,650$1,827$2,308$2,840
FY 2024$1,404$1,442$1,619$2,035$2,482
FY 2023$1,218$1,245$1,406$1,758$2,173

Questions about ZIP 37234 rents

How much will Section 8 pay for a two-bedroom in ZIP 37234?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,798, that basic range is $1,618 to $1,978 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 37234 in?

ZIP 37234 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 37234 for FY 2027?

The two-bedroom FMR rose 3.9%, from $1,730 in FY 2026 to $1,798 in FY 2027. Since FY 2023 it has risen 27.9%.

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 Fair Market Rents. 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