FY2027 Small Area FMR · New Market, TN
ZIP 37820 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 37820 (New Market, TN) is $1,140 a month, up 9.6% from FY2026. That is 1% below the Morristown, TN area-wide FMR of $1,153.
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 37820 sits in the Morristown, TN area
Of the 16 ZIP codes HUD lists for the area, 37820 has the 7th highest two-bedroom Small Area FMR. Morristown, 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 $1,153 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,140 for this ZIP code instead.
ZIP code 37820 crosses more than one HUD area. HUD also lists it under Sevier County, TN (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $900 | $810 – $990 | $906 | $810 |
| 1 bedroom | $900 | $810 – $990 | $912 | $860 |
| 2 bedrooms | $1,140 | $1,026 – $1,254 | $1,153 | $1,040 |
| 3 bedrooms | $1,390 | $1,251 – $1,529 | $1,405 | $1,360 |
| 4 bedrooms | $1,820 | $1,638 – $2,002 | $1,838 | $1,670 |
A household renting a two-bedroom home at the Small Area FMR of $1,140 needs about $45,600 a year to keep housing costs at 30% of income. The area median family income is $80,100 and the 80% low-income limit for four people is $64,100. ZIP code 37820 lies mainly in Jefferson County. See the Morristown, TN 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 37820?
HUD's FY2027 Small Area Fair Market Rents for 37820 are $900 (studio), $900 (1 BR), $1,140 (2 BR), $1,390 (3 BR) and $1,820 (4 BR) a month.
What is the Section 8 payment standard in 37820?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 37820 that range is $1,026 to $1,254 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 37820?
The FY2026 income limits of the Morristown, TN area apply: median family income $80,100, low-income (80%) limit $64,100 for a family of four.