FMR is below market; voucher rent may lag private rents.
0.59
1 BR
1 BR
0.65ratio
FMR$845
Market$1,310
vs market-$465
FMR is below market; voucher rent may lag private rents.
0.65
2 BR
2 BR
0.80ratio
FMR$1,091
Market$1,370
vs market-$279
FMR is below market; voucher rent may lag private rents.
0.80
3 BR
3 BR
0.72ratio
FMR$1,375
Market$1,900
vs market-$525
FMR is below market; voucher rent may lag private rents.
0.72
4 BR
4 BR
0.72ratio
FMR$1,465
Market$2,040
vs market-$575
FMR is below market; voucher rent may lag private rents.
0.72
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 37699 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 37699 (Piney Flats, TN) is $1,091 a month. That is up 4.5% from $1,044 in FY 2026. Piney Flats is in the Kingsport-Bristol, TN-VA MSA. The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37699 is 4% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 37699
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$720
$760
+5.6%
$684–$836
1BR
$818
$845
+3.3%
$761–$930
2BR
$1,044
$1,091
+4.5%
$982–$1,200
3BR
$1,338
$1,375
+2.8%
$1,238–$1,513
4BR
$1,464
$1,465
+0.1%
$1,319–$1,612
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 37699
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$760
$845
$1,091
$1,375
$1,465
FY 2026
$720
$818
$1,044
$1,338
$1,464
FY 2025
$738
$824
$1,043
$1,343
$1,538
FY 2024
$677
$717
$905
$1,179
$1,335
FY 2023
$583
$627
$793
$1,041
$1,170
Questions about ZIP 37699 rents
How much will Section 8 pay for a two-bedroom in ZIP 37699?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,091, that basic range is $982 to $1,200 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 37699 in?
ZIP 37699 is in the Kingsport-Bristol, TN-VA MSA. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 37699 for FY 2027?
The two-bedroom FMR rose 4.5%, from $1,044 in FY 2026 to $1,091 in FY 2027. Since FY 2023 it has risen 37.6%.
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