Tennessee · FIPS 47123 · HUD FY 2027
Monroe County, Tennessee Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Monroe County is $995 a month (rent plus utilities), 28% below the Tennessee average of $1,381 and 43% below the U.S. average of $1,761. That is up $70 (7.6%) from FY 2026. At 30% of income, a household needs about $39,800 a year to afford it.
- $9952-bedroom FMR+$70 (+7.6%) vs FY 2026
- $8621-bedroom FMRTennessee: $1,196 · U.S.: $1,478
- $39,800Income for a 2-bedroom$19/hour full-time
- 56 of 952BR rank in Tennessee1 = highest rent
| Unit | Monroe County FY 2027 | FY 2026 | Change | Tennessee avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $769 | $684 | +$85 (+12.4%) | $1,141 | $1,379 | $30,760 |
| 1 bedroom | $862 | $764 | +$98 (+12.8%) | $1,196 | $1,478 | $34,480 |
| 2 bedrooms | $995 | $925 | +$70 (+7.6%) | $1,381 | $1,761 | $39,800 |
| 3 bedrooms | $1,303 | $1,220 | +$83 (+6.8%) | $1,771 | $2,266 | $52,120 |
| 4 bedrooms | $1,308 | $1,225 | +$83 (+6.8%) | $2,054 | $2,607 | $52,320 |
How Monroe County compares
- Monroe 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: $769, $862, $995, $1,303, $1,308. 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 4 ZIP codes mostly in Monroe County (by land area), the 2-bedroom figure ranges from $1,000 to $1,310.
Small Area FMRs by ZIP code in Monroe County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 37354 | $810 | $910 | $1,050 | $1,370 | $1,380 | +$90 (+9.4%) | 6% above |
| 37385 | $770 | $860 | $1,110 | $1,430 | $1,470 | +$20 (+1.8%) | 12% above |
| 37874 | $770 | $870 | $1,000 | $1,290 | $1,350 | +$10 (+1.0%) | 1% above |
| 37885 | $1,010 | $1,130 | $1,310 | $1,710 | $1,720 | +$130 (+11.0%) | 32% 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.