HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Chester County, Tennessee (FY 2027)
A two-bedroom in Chester County carries a FY 2027 Fair Market Rent of $1,375 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Chester keys off that figure.
Two-bedroom FMR
$1,375
+9.1% from FY 2026
Payment standard
$1,238–$1,513
90% to 110% of the FMR, two-bedroom
Income to afford
$55,000
a year, with rent at 30% of income
Rank in Tennessee
17th of 95
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $957 | $861–$1,053 | $38,280 | $18.40/hr | +10.1% |
| 1 bedroom | $1,051 | $946–$1,156 | $42,040 | $20.21/hr | +9.5% |
| 2 bedroom | $1,375 | $1,238–$1,513 | $55,000 | $26.44/hr | +9.1% |
| 3 bedroom | $1,730 | $1,557–$1,903 | $69,200 | $33.27/hr | +3.2% |
| 4 bedroom | $1,898 | $1,708–$2,088 | $75,920 | $36.50/hr | +8.0% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,183 | $1,965–$2,401 |
| 6 bedroom Estimate | $2,467 | $2,220–$2,714 |
| 7 bedroom Estimate | $2,752 | $2,477–$3,027 |
| 8 bedroom Estimate | $3,037 | $2,733–$3,341 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Chester actually rent for?
Search any address in Chester for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Chester somewhere between $1,238 and $1,513. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,375 a month is affordable, by HUD's 30% rule, on an income of roughly $55,000 a year. Put another way, $26 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,238 | Voucher pays at 100%$1,375 | Voucher pays at 110%$1,513 |
|---|---|---|---|---|
| $2,500 | $750 | $488 | $625 | $763 |
| $4,000 | $1,200 | $38 | $175 | $313 |
Rate history
The two-bedroom rate went up 9% from FY 2026 ($1,260) to FY 2027 ($1,375). Since FY 2020 it's up 74% in total, about 8.2% a year. The Tennessee median moved up 7% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $516 | $648 | $792 | $1,129 | $1,133 | — |
| FY 2021 | $549 | $661 | $832 | $1,147 | $1,152 | +5.1% |
| FY 2022 | $561 | $651 | $845 | $1,160 | $1,165 | +1.6% |
| FY 2023 | $627 | $712 | $937 | $1,269 | $1,274 | +10.9% |
| FY 2024 | $771 | $866 | $1,138 | $1,558 | $1,563 | +21.5% |
| FY 2025 | $848 | $942 | $1,236 | $1,667 | $1,674 | +8.6% |
| FY 2026 | $869 | $960 | $1,260 | $1,677 | $1,758 | +1.9% |
| FY 2027In effect | $957 | $1,051 | $1,375 | $1,730 | $1,898 | +9.1% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Chester, that runs from $957 for a studio up to $1,898 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Chester in with one other county in the Jackson metro, Madison County among them, and every one of them gets $1,375 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Tennessee's 95 counties, Chester ranks 17th for two-bedroom FMR. That's about 31% above the state median of $1,048 and about 29% above the national median county at $1,063. About 17,611 people live here, 73rd in the state.
Rates by ZIP code
HUD also publishes Small Area FMRs by ZIP code. For the 4 ZIP codes it covers in Chester, the two-bedroom rate is $1,140 across the board, so there's no ZIP-level story here.
Counties sharing the Jackson metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,375 two-bedroom figure as Chester.
Nearby counties
Two-bedroom FMR, with how each compares to Chester.
Henderson County
13 mi · 27,980 people
$995
-28%
Madison County
19 mi · 99,295 people
$1,375
same rate
McNairy County
21 mi · 25,970 people
$995
-28%
Decatur County
24 mi · 11,579 people
$995
-28%
Hardin County
24 mi · 27,249 people
$995
-28%
Hardeman County
32 mi · 25,433 people
$995
-28%
Carroll County
34 mi · 28,641 people
$995
-28%
Crockett County
41 mi · 13,944 people
$1,093
-21%
Questions people ask
$1,375 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $957 for a studio, $1,051 for one bedroom, $1,730 for three and $1,898 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Chester actually go for?
HUD's number is one input. Search any address in Chester for a rent estimate built from nearby comps. Free to start, no card.
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