Tennessee · FIPS 47051 · HUD FY 2027
Franklin County, Tennessee Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Franklin County is $1,060 a month (rent plus utilities), 23% below the Tennessee average of $1,381 and 40% below the U.S. average of $1,761. That is up $80 (8.2%) from FY 2026. At 30% of income, a household needs about $42,400 a year to afford it.
- $1,0602-bedroom FMR+$80 (+8.2%) vs FY 2026
- $8101-bedroom FMRTennessee: $1,196 · U.S.: $1,478
- $42,400Income for a 2-bedroom$20/hour full-time
- 44 of 952BR rank in Tennessee1 = highest rent
| Unit | Franklin County FY 2027 | FY 2026 | Change | Tennessee avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $805 | $742 | +$63 (+8.5%) | $1,141 | $1,379 | $32,200 |
| 1 bedroom | $810 | $747 | +$63 (+8.4%) | $1,196 | $1,478 | $32,400 |
| 2 bedrooms | $1,060 | $980 | +$80 (+8.2%) | $1,381 | $1,761 | $42,400 |
| 3 bedrooms | $1,403 | $1,307 | +$96 (+7.3%) | $1,771 | $2,266 | $56,120 |
| 4 bedrooms | $1,772 | $1,622 | +$150 (+9.2%) | $2,054 | $2,607 | $70,880 |
How Franklin County compares
- Franklin County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Tennessee, 2-bedroom FMRs run from $995 (Weakley County) to $1,798 (Cannon County).
- Studio to 4-bedroom: $805, $810, $1,060, $1,403, $1,772. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 9 ZIP codes mostly in Franklin County (by land area), the 2-bedroom figure ranges from $1,000 to $1,570.
Small Area FMRs by ZIP code in Franklin County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 37306 | $870 | $890 | $1,150 | $1,520 | $1,900 | +$110 (+10.6%) | 8% above |
| 37318 | $760 | $760 | $1,000 | $1,320 | $1,660 | +$70 (+7.5%) | 6% below |
| 37324 | $770 | $780 | $1,020 | $1,350 | $1,700 | +$60 (+6.2%) | 4% below |
| 37330 | $860 | $870 | $1,130 | $1,500 | $1,860 | no change | 7% above |
| 37345 | $990 | $990 | $1,300 | $1,720 | $2,170 | +$140 (+12.1%) | 23% above |
| 37375 | $1,210 | $1,230 | $1,570 | $2,070 | $2,580 | +$110 (+7.5%) | 48% above |
| 37376 | $950 | $960 | $1,180 | $1,550 | $1,840 | +$80 (+7.3%) | 11% above |
| 37383 | $1,210 | $1,230 | $1,570 | $2,070 | $2,580 | +$110 (+7.5%) | 48% above |
| 37398 | $820 | $830 | $1,080 | $1,430 | $1,800 | +$90 (+9.1%) | 2% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.