FY2027 Small Area FMR · Chattanooga, TN
ZIP 37402 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 37402 (Chattanooga, TN) is $1,460 a month, down 3.9% from FY2026. That is 9% above the Chattanooga, TN-GA area-wide FMR of $1,340.
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 37402 sits in the Chattanooga, TN-GA area
Of the 71 ZIP codes HUD lists for the area, 37402 has the 12th highest two-bedroom Small Area FMR. Chattanooga, TN-GA 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 $1,314 and $1,606 for two bedrooms.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,290 | $1,161 – $1,419 | $1,181 | $1,320 |
| 1 bedroom | $1,340 | $1,206 – $1,474 | $1,231 | $1,380 |
| 2 bedrooms | $1,460 | $1,314 – $1,606 | $1,340 | $1,520 |
| 3 bedrooms | $1,810 | $1,629 – $1,991 | $1,657 | $1,900 |
| 4 bedrooms | $1,920 | $1,728 – $2,112 | $1,761 | $2,030 |
A household renting a two-bedroom home at the Small Area FMR of $1,460 needs about $58,400 a year to keep housing costs at 30% of income. The area median family income is $97,400 and the 80% low-income limit for four people is $77,900. ZIP code 37402 lies mainly in Hamilton County. See the Chattanooga, TN-GA metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 37402?
HUD's FY2027 Small Area Fair Market Rents for 37402 are $1,290 (studio), $1,340 (1 BR), $1,460 (2 BR), $1,810 (3 BR) and $1,920 (4 BR) a month.
What is the Section 8 payment standard in 37402?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 37402 that range is $1,314 to $1,606 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 37402?
The FY2026 income limits of the Chattanooga, TN-GA area apply: median family income $97,400, low-income (80%) limit $77,900 for a family of four.