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Sevier County/Gatlinburg/37738

37738

ZIPSAFMR
Sevier County, TN
Zillow

ZIP Investment Score

45Below average

095130300
BRFMR
Eff. Rent
0 BR$1,090$1,200
1 BR$1,100$1,210
2 BR$1,280$1,410
3 BR$1,660$1,830
4 BR$1,680$1,850
5 BR$1,932Not available
6 BR$2,222Not available
7 BR$2,555Not available
8 BR$2,938Not available

Purchase Price Calculator

Maximum purchase price
$147,609

Cost breakdown

+Likely effective rent$1,410
HUD FMR$1,280
Market rent$2,230
Est. payment standard (110%)Used$1,410
-Principal and interest-$746
Loan amount$118,087
Down payment$29,522
Rate6.50%
Term30 years
-Operating costs-$464
Property taxes-$148
Insurance-$175
Utilities$0
HOA$0
Management-$141
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,781(77.2% ROI)
Projected value
$158,959
Return breakdown
Property appreciation+$11,350
Loan principal paid down+$4,231
Rental cash flow+$7,200
5-year hold
+$38,942(131.9% ROI)
Projected value
$167,006
Return breakdown
Property appreciation+$19,397
Loan principal paid down+$7,545
Rental cash flow+$12,000
10-year hold
+$83,320(282.2% ROI)
Projected value
$188,952
Return breakdown
Property appreciation+$41,343
Loan principal paid down+$17,977
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.54
1 BR
0.53
2 BR
0.57
3 BR
0.69
4 BR
0.66
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 37738 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37738 (Gatlinburg, TN) is $1,280 a month. That is up 4.9% from $1,220 in FY 2026. Gatlinburg is in the Sevier County, TN non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $1,213. Among 13 ZIP codes in Sevier County, 37738 has the 4th-highest two-bedroom rent (county range $1,050–$1,540). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37738 is 22% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37738
BedroomsFY 2027Change90–110% range
Studio$1,090+17.2%$981–$1,199
1BR$1,100+7.8%$990–$1,210
2BR$1,280+4.9%$1,152–$1,408
3BR$1,660+3.8%$1,494–$1,826
4BR$1,680+3.7%$1,512–$1,848

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37738
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,090$1,100$1,280$1,660$1,680
FY 2026$930$1,020$1,220$1,600$1,620
FY 2025$890$1,000$1,200$1,570$1,590
FY 2024area FMR$834$896$1,082$1,403$1,441
FY 2023area FMR$726$783$945$1,205$1,269

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Sevier County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 37738
37722$1,090−14.8%
37725$1,180−7.8%
37738Current$1,280—
37764$1,320+3.1%
37820$1,140−10.9%
37862$1,150−10.2%
37863$1,150−10.2%
37864$1,210−5.5%
37865$1,540+20.3%
37868$1,210−5.5%
37871$1,050−18.0%
37876$1,200−6.2%

Questions about ZIP 37738 rents

How much will Section 8 pay for a two-bedroom in ZIP 37738?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,213, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,092 to $1,334 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 37738 in?

ZIP 37738 is in the Sevier County, TN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,213.

How much did fair market rent change in ZIP 37738 for FY 2027?

The two-bedroom FMR rose 4.9%, from $1,220 in FY 2026 to $1,280 in FY 2027. Since FY 2025 it has risen 6.7%.

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