Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
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ZIP 37848 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37848 (Powder Springs, TN) is $1,130 a month. That is up 5.6% from $1,070 in FY 2026. Powder Springs is in the Knoxville, TN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 11 ZIP codes in Union County, 37848 is tied for the 6th-highest two-bedroom rent (county range $1,000–$1,660). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37848 is 8% above it.
How much will Section 8 pay for a two-bedroom in ZIP 37848?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,130, that basic range is $1,017 to $1,243 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 37848 in?
ZIP 37848 is in the Knoxville, TN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in ZIP 37848 for FY 2027?
The two-bedroom FMR rose 5.6%, from $1,070 in FY 2026 to $1,130 in FY 2027. Since FY 2023 it has risen 27.0%.
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