FMR is below market; voucher rent may lag private rents.
0.77
1 BR
1 BR
0.73ratio
FMR$900
Market$1,230
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.73
2 BR
2 BR
0.81ratio
FMR$1,140
Market$1,400
vs market-$260
FMR is below market; voucher rent may lag private rents.
0.81
3 BR
3 BR
0.74ratio
FMR$1,390
Market$1,880
vs market-$490
FMR is below market; voucher rent may lag private rents.
0.74
4 BR
4 BR
0.83ratio
FMR$1,820
Market$2,180
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.83
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
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ZIP 37815 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37815 (Morristown, TN) is $1,140 a month. That is up 0.9% from $1,130 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 9 ZIP codes in Hamblen County, 37815 is tied for the 3rd-highest two-bedroom rent (county range $1,030–$1,290). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37815 is 9% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 37815
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$880
$900
+2.3%
$810–$990
1BR
$880
$900
+2.3%
$810–$990
2BR
$1,130
$1,140
+0.9%
$1,026–$1,254
3BR
$1,440
$1,390
−3.5%
$1,251–$1,529
4BR
$1,820
$1,820
0.0%
$1,638–$2,002
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 37815
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$900
$900
$1,140
$1,390
$1,820
FY 2026
$880
$880
$1,130
$1,440
$1,820
FY 2025
$820
$830
$1,070
$1,400
$1,750
FY 2024
$790
$800
$1,030
$1,380
$1,660
FY 2023
$640
$650
$840
$1,150
$1,320
Two-bedroom rent in nearby Hamblen County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 37815?
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 37815 in?
ZIP 37815 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 37815 for FY 2027?
The two-bedroom FMR rose 0.9%, from $1,130 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 35.7%.
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