FY2027 Small Area FMR · Old Hickory, TN

ZIP 37138 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 37138 (Old Hickory, TN) is $1,850 a month, up 6.9% from FY2026. That is 3% above the Nashville-Davidson--Murfreesboro--Franklin, TN area-wide FMR of $1,798.

2-bedroom SAFMR$1,850per month ▲ 6.9%

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

Rank in the area36thof 125 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,665

2 BR Small Area FMR$1,850

110% of SAFMR$2,035

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

Studio$1,630▲ 7.9%

1 BR$1,700▲ 7.6%

2 BR$1,850▲ 6.9%

3 BR$2,380▲ 7.7%

4 BR$2,880▲ 6.7%

FY2027 FY2026

Where 37138 sits in the Nashville-Davidson--Murfreesboro--Franklin, TN area

Of the 125 ZIP codes HUD lists for the area, 37138 has the 36th 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 $1,665 and $2,035 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,630	$1,467 – $1,793	$1,585	$1,510
1 bedroom	$1,700	$1,530 – $1,870	$1,650	$1,580
2 bedrooms	$1,850	$1,665 – $2,035	$1,798	$1,730
3 bedrooms	$2,380	$2,142 – $2,618	$2,309	$2,210
4 bedrooms	$2,880	$2,592 – $3,168	$2,799	$2,700

A household renting a two-bedroom home at the Small Area FMR of $1,850 needs about $74,000 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 37138 lies mainly in Davidson County and Wilson 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
37115	Madison	4.6 mi	$1,670
37214	Nashville	6.3 mi	$2,050
37216	Nashville	6.4 mi	$1,870
37075	Hendersonville	6.9 mi	$1,890
37076	Hermitage	6.9 mi	$1,840
37206	Nashville	7.7 mi	$1,870

Questions

What is the Fair Market Rent for ZIP code 37138?

HUD's FY2027 Small Area Fair Market Rents for 37138 are $1,630 (studio), $1,700 (1 BR), $1,850 (2 BR), $2,380 (3 BR) and $2,880 (4 BR) a month.

What is the Section 8 payment standard in 37138?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 37138 that range is $1,665 to $2,035 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 37138?

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.