FY2027 Small Area FMR · Sherwood, TN
ZIP 37376 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 37376 (Sherwood, TN) is $1,180 a month, up 7.3% from FY2026. That is 11% above the Franklin County, TN area-wide FMR of $1,060.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 37376 sits in the Franklin County, TN area
Of the 17 ZIP codes HUD lists for the area, 37376 has the 6th highest two-bedroom Small Area FMR. Franklin County, TN is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,060 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,180 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $950 | $855 – $1,045 | $805 | $870 |
| 1 bedroom | $960 | $864 – $1,056 | $810 | $900 |
| 2 bedrooms | $1,180 | $1,062 – $1,298 | $1,060 | $1,100 |
| 3 bedrooms | $1,550 | $1,395 – $1,705 | $1,403 | $1,430 |
| 4 bedrooms | $1,840 | $1,656 – $2,024 | $1,772 | $1,690 |
A household renting a two-bedroom home at the Small Area FMR of $1,180 needs about $47,200 a year to keep housing costs at 30% of income. The area median family income is $83,300 and the 80% low-income limit for four people is $66,650. ZIP code 37376 lies mainly in Franklin County. See the Franklin County, TN county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 37376?
HUD's FY2027 Small Area Fair Market Rents for 37376 are $950 (studio), $960 (1 BR), $1,180 (2 BR), $1,550 (3 BR) and $1,840 (4 BR) a month.
What is the Section 8 payment standard in 37376?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 37376 that range is $1,062 to $1,298 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 37376?
The FY2026 income limits of the Franklin County, TN area apply: median family income $83,300, low-income (80%) limit $66,650 for a family of four.