FMR is near market; voucher and private rents are aligned.
0.99
1 BR
1 BR
0.86ratio
FMR$1,000
Market$1,160
vs market-$160
FMR is below market; voucher rent may lag private rents.
0.86
2 BR
2 BR
0.90ratio
FMR$1,280
Market$1,430
vs market-$150
FMR is below market; voucher rent may lag private rents.
0.90
3 BR
3 BR
0.83ratio
FMR$1,540
Market$1,860
vs market-$320
FMR is below market; voucher rent may lag private rents.
0.83
4 BR
4 BR
0.88ratio
FMR$1,700
Market$1,940
vs market-$240
FMR is below market; voucher rent may lag private rents.
0.88
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 37605 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37605 (Johnson City, TN) is $1,280 a month. That is up 7.6% from $1,190 in FY 2026. Johnson City is in the Johnson City, 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 $1,211. Among 16 ZIP codes in Washington County, 37605 is tied for the 6th-highest two-bedroom rent (county range $1,020–$1,390). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37605 is 22% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 37605
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$930
$1,000
+7.5%
$900–$1,100
1BR
$940
$1,000
+6.4%
$900–$1,100
2BR
$1,190
$1,280
+7.6%
$1,152–$1,408
3BR
$1,470
$1,540
+4.8%
$1,386–$1,694
4BR
$1,630
$1,700
+4.3%
$1,530–$1,870
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 37605
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,000
$1,000
$1,280
$1,540
$1,700
FY 2026
$930
$940
$1,190
$1,470
$1,630
FY 2025
$930
$940
$1,170
$1,450
$1,630
FY 2024
$900
$910
$1,120
$1,410
$1,630
FY 2023
$740
$760
$920
$1,160
$1,370
Two-bedroom rent in nearby Washington County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 37605?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,211, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,090 to $1,332 a month; under the ZIP-level Small Area FMR of $1,280 it would be $1,152 to $1,408. 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 37605 in?
ZIP 37605 is in the Johnson City, TN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,211.
How much did fair market rent change in ZIP 37605 for FY 2027?
The two-bedroom FMR rose 7.6%, from $1,190 in FY 2026 to $1,280 in FY 2027. Since FY 2023 it has risen 39.1%.
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