37901

ZIPSAFMR

Knox County, TN

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,220	$1,080	5.8%
1 BR	$1,230	$1,310	5.4%
2 BR	$1,540	$1,660	6.4%
3 BR	$1,930	$2,010	5.4%
4 BR	$2,220	$2,420	5.0%
5 BR	$2,553	Not available	5.0%
6 BR	$2,936	Not available	5.0%
7 BR	$3,376	Not available	5.0%
8 BR	$3,883	Not available	5.0%

Purchase Price Calculator

Maximum purchase price

$184,759

Cost breakdown

+Likely effective rent$1,660

HUD FMR$1,540

Market rent$1,730

Est. payment standard (108%)Used$1,660

-Principal and interest-$934

Loan amount$147,807

Down payment$36,952

Rate6.50%

Term30 years

-Operating costs-$526

Property taxes-$185

Insurance-$175

Utilities$0

HOA$0

Management-$166

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$26,702(72.3% ROI)

Projected value

$198,965

Return breakdown

Property appreciation+$14,206

Loan principal paid down+$5,296

Rental cash flow+$7,200

5-year hold

+$45,722(123.7% ROI)

Projected value

$209,038

Return breakdown

Property appreciation+$24,279

Loan principal paid down+$9,443

Rental cash flow+$12,000

10-year hold

+$98,250(265.9% ROI)

Projected value

$236,507

Return breakdown

Property appreciation+$51,748

Loan principal paid down+$22,502

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.13ratio

FMR$1,220

Market$1,080

vs market+$140

FMR is above market; underwrite to market rent.

1.13

1 BR

0.91ratio

FMR$1,230

Market$1,350

vs market-$120

FMR is near market; voucher and private rents are aligned.

0.91

2 BR

0.89ratio

FMR$1,540

Market$1,730

vs market-$190

FMR is below market; voucher rent may lag private rents.

0.89

3 BR

0.94ratio

FMR$1,930

Market$2,060

vs market-$130

FMR is near market; voucher and private rents are aligned.

0.94

4 BR

0.88ratio

FMR$2,220

Market$2,530

vs market-$310

FMR is below market; voucher rent may lag private rents.

0.88

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 37901 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37901 (Knoxville, TN) is $1,540 a month. That is up 0.7% from $1,530 in FY 2026. Knoxville 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 43 ZIP codes in Knox County, 37901 is tied for the 10th-highest two-bedroom rent (county range $1,020–$2,210). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37901 is 47% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37901
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,220	$1,220	0.0%	$1,098–$1,342
1BR	$1,230	$1,230	0.0%	$1,107–$1,353
2BR	$1,530	$1,540	+0.7%	$1,386–$1,694
3BR	$1,940	$1,930	−0.5%	$1,737–$2,123
4BR	$2,260	$2,220	−1.8%	$1,998–$2,442

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37901
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,220	$1,230	$1,540	$1,930	$2,220
FY 2026	$1,220	$1,230	$1,530	$1,940	$2,260
FY 2025	$1,310	$1,320	$1,620	$2,080	$2,440
FY 2024	$1,030	$1,050	$1,280	$1,650	$1,920
FY 2023	$930	$1,000	$1,210	$1,580	$1,860

Two-bedroom rent in nearby Knox County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 37901
37901Current	$1,540	—
37902	$1,900	+23.4%
37909	$1,460	−5.2%
37912	$1,370	−11.0%
37914	$1,340	−13.0%
37915	$1,200	−22.1%
37916	$1,510	−1.9%
37917	$1,600	+3.9%
37918	$1,460	−5.2%
37919	$1,740	+13.0%
37920	$1,390	−9.7%
37921	$1,520	−1.3%

Questions about ZIP 37901 rents

How much will Section 8 pay for a two-bedroom in ZIP 37901?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,540, that basic range is $1,386 to $1,694 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 37901 in?

ZIP 37901 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 37901 for FY 2027?

The two-bedroom FMR rose 0.7%, from $1,530 in FY 2026 to $1,540 in FY 2027. Since FY 2023 it has risen 27.3%.

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 rent Knoxville, TN fair market rent TN statewide rents What is SAFMR?Data sources