FY2027 Small Area FMR · Franklin, TN

ZIP 37068 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 37068 (Franklin, TN) is $2,300 a month, up 0.9% from FY2026. That is 28% above the Nashville-Davidson--Murfreesboro--Franklin, TN area-wide FMR of $1,798.

2-bedroom SAFMR$2,300per month ▲ 0.9%

Area-wide 2 BR FMR$1,798Nashville-Davidson--Murfrees

Rank in the area8thof 125 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,070

2 BR Small Area FMR$2,300

110% of SAFMR$2,530

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$2,030▲ 2.0%

1 BR$2,110▲ 1.4%

2 BR$2,300▲ 0.9%

3 BR$2,950▲ 1.4%

4 BR$3,580▲ 0.8%

FY2027 FY2026

Where 37068 sits in the Nashville-Davidson--Murfreesboro--Franklin, TN area

Of the 125 ZIP codes HUD lists for the area, 37068 has the 8th highest two-bedroom Small Area FMR. Nashville-Davidson--Murfreesboro--Franklin, TN is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $2,070 and $2,530 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$2,030	$1,827 – $2,233	$1,585	$1,990
1 bedroom	$2,110	$1,899 – $2,321	$1,650	$2,080
2 bedrooms	$2,300	$2,070 – $2,530	$1,798	$2,280
3 bedrooms	$2,950	$2,655 – $3,245	$2,309	$2,910
4 bedrooms	$3,580	$3,222 – $3,938	$2,799	$3,550

A household renting a two-bedroom home at the Small Area FMR of $2,300 needs about $92,000 a year to keep housing costs at 30% of income. The area median family income is $116,100 and the 80% low-income limit for four people is $92,900. ZIP code 37068 lies mainly in Williamson County. See the Nashville-Davidson--Murfreesboro--Franklin, TN metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
37064	Franklin	2.7 mi	$2,230
37179	Thompsons Station	4.5 mi	$2,440
37067	Franklin	7.6 mi	$2,270
37069	Franklin	7.9 mi	$2,560
37174	Spring Hill	10.7 mi	$2,120
37027	Brentwood	11.0 mi	$2,500

Questions

What is the Fair Market Rent for ZIP code 37068?

HUD's FY2027 Small Area Fair Market Rents for 37068 are $2,030 (studio), $2,110 (1 BR), $2,300 (2 BR), $2,950 (3 BR) and $3,580 (4 BR) a month.

What is the Section 8 payment standard in 37068?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 37068 that range is $2,070 to $2,530 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 37068?

The FY2026 income limits of the Nashville-Davidson--Murfreesboro--Franklin, TN area apply: median family income $116,100, low-income (80%) limit $92,900 for a family of four.