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Polk County/Charleston/37310

37310

ZIPSAFMR
Polk County, TN
Zillow

ZIP Investment Score

47Below average

095130300
BRFMR
Eff. Rent
0 BR$800$800
1 BR$880$880
2 BR$1,150$1,150
3 BR$1,440$1,440
4 BR$1,510$1,510
5 BR$1,736Not available
6 BR$1,997Not available
7 BR$2,297Not available
8 BR$2,641Not available

Purchase Price Calculator

Maximum purchase price
$108,973

Cost breakdown

+Likely effective rent$1,150
HUD FMRUsed$1,150
Market rentN/A
Est. payment standardN/A
-Principal and interest-$551
Loan amount$87,178
Down payment$21,795
Rate6.50%
Term30 years
-Operating costs-$399
Property taxes-$109
Insurance-$175
Utilities$0
HOA$0
Management-$115
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,702(85.8% ROI)
Projected value
$117,352
Return breakdown
Property appreciation+$8,379
Loan principal paid down+$3,123
Rental cash flow+$7,200
5-year hold
+$31,890(146.3% ROI)
Projected value
$123,293
Return breakdown
Property appreciation+$14,320
Loan principal paid down+$5,570
Rental cash flow+$12,000
10-year hold
+$67,794(311.1% ROI)
Projected value
$139,495
Return breakdown
Property appreciation+$30,522
Loan principal paid down+$13,272
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 37310 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37310 (Charleston, TN) is $1,150 a month. That is up 3.6% from $1,110 in FY 2026. Charleston is in the Cleveland, TN MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,270. Among 15 ZIP codes in Polk County, 37310 has the 2nd-highest two-bedroom rent (county range $1,110–$1,230). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37310 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37310
BedroomsFY 2027Change90–110% range
Studio$800+3.9%$720–$880
1BR$880+3.5%$792–$968
2BR$1,150+3.6%$1,035–$1,265
3BR$1,440+0.7%$1,296–$1,584
4BR$1,510+2.7%$1,359–$1,661

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37310
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$800$880$1,150$1,440$1,510
FY 2026$770$850$1,110$1,430$1,470
FY 2025$720$790$1,030$1,340$1,380
FY 2024$640$680$900$1,180$1,240
FY 2023$530$570$750$980$1,110

Two-bedroom rent in nearby Polk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 37310
37307$1,110−3.5%
37309$1,110−3.5%
37310Current$1,150—
37316$1,110−3.5%
37317$1,110−3.5%
37323$1,230+7.0%
37325$1,110−3.5%
37326$1,110−3.5%
37331$1,110−3.5%
37333$1,110−3.5%
37361$1,110−3.5%
37362$1,110−3.5%

Questions about ZIP 37310 rents

How much will Section 8 pay for a two-bedroom in ZIP 37310?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,270, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,143 to $1,397 a month; under the ZIP-level Small Area FMR of $1,150 it would be $1,035 to $1,265. 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 37310 in?

ZIP 37310 is in the Cleveland, TN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,270.

How much did fair market rent change in ZIP 37310 for FY 2027?

The two-bedroom FMR rose 3.6%, from $1,110 in FY 2026 to $1,150 in FY 2027. Since FY 2023 it has risen 53.3%.

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