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Jefferson County/Morristown/37813

37813

ZIPSAFMR
Jefferson County, TN
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$900$990
1 BR$900$990
2 BR$1,140$1,250
3 BR$1,390$1,530
4 BR$1,820$2,000
5 BR$2,093Not available
6 BR$2,407Not available
7 BR$2,768Not available
8 BR$3,183Not available

Purchase Price Calculator

Maximum purchase price
$123,833

Cost breakdown

+Likely effective rent$1,250
HUD FMR$1,140
Market rent$1,420
Est. payment standard (110%)Used$1,250
-Principal and interest-$626
Loan amount$99,066
Down payment$24,767
Rate6.50%
Term30 years
-Operating costs-$424
Property taxes-$124
Insurance-$175
Utilities$0
HOA$0
Management-$125
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,271(81.8% ROI)
Projected value
$133,355
Return breakdown
Property appreciation+$9,522
Loan principal paid down+$3,549
Rental cash flow+$7,200
5-year hold
+$34,602(139.7% ROI)
Projected value
$140,106
Return breakdown
Property appreciation+$16,273
Loan principal paid down+$6,329
Rental cash flow+$12,000
10-year hold
+$73,765(297.8% ROI)
Projected value
$158,517
Return breakdown
Property appreciation+$34,684
Loan principal paid down+$15,082
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.78
1 BR
0.73
2 BR
0.80
3 BR
0.74
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 37813 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37813 (Morristown, TN) is $1,140 a month. That is up 2.7% from $1,110 in FY 2026. Morristown is in the Morristown, TN HUD Metro 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 metro-wide two-bedroom FMR of $1,153. Among 10 ZIP codes in Jefferson County, 37813 is tied for the 6th-highest two-bedroom rent (county range $1,030–$1,320). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37813 is 9% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37813
BedroomsFY 2027Change90–110% range
Studio$900+4.7%$810–$990
1BR$900+3.4%$810–$990
2BR$1,140+2.7%$1,026–$1,254
3BR$1,390−1.4%$1,251–$1,529
4BR$1,820+1.7%$1,638–$2,002

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37813
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$900$900$1,140$1,390$1,820
FY 2026$860$870$1,110$1,410$1,790
FY 2025$800$800$1,040$1,360$1,700
FY 2024$770$770$1,000$1,340$1,620
FY 2023$620$620$810$1,110$1,270

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 37813
37725$1,180+3.5%
37760$1,150+0.9%
37764$1,320+15.8%
37813Current$1,140—
37820$1,1400.0%
37821$1,030−9.6%
37871$1,050−7.9%
37876$1,200+5.3%
37877$1,290+13.2%
37890$1,1400.0%

Questions about ZIP 37813 rents

How much will Section 8 pay for a two-bedroom in ZIP 37813?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,153, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,038 to $1,268 a month; under the ZIP-level Small Area FMR of $1,140 it would be $1,026 to $1,254. 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 37813 in?

ZIP 37813 is in the Morristown, TN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,153.

How much did fair market rent change in ZIP 37813 for FY 2027?

The two-bedroom FMR rose 2.7%, from $1,110 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 40.7%.

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