HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Clay County, Tennessee (FY 2027)
$995 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Clay County, and it's the baseline every voucher in Clay is measured against.
Two-bedroom FMR
$995
+7.6% from FY 2026
Payment standard
$896–$1,095
90% to 110% of the FMR, two-bedroom
Income to afford
$39,800
a year, with rent at 30% of income
Rank in Tennessee
60th 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 | $756 | $680–$832 | $30,240 | $14.54/hr | +8.0% |
| 1 bedroom | $761 | $685–$837 | $30,440 | $14.63/hr | +7.9% |
| 2 bedroom | $995 | $896–$1,095 | $39,800 | $19.13/hr | +7.6% |
| 3 bedroom | $1,360 | $1,224–$1,496 | $54,400 | $26.15/hr | +5.8% |
| 4 bedroom | $1,365 | $1,229–$1,502 | $54,600 | $26.25/hr | +5.9% |
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 | $1,570 | $1,413–$1,727 |
| 6 bedroom Estimate | $1,775 | $1,598–$1,953 |
| 7 bedroom Estimate | $1,979 | $1,781–$2,177 |
| 8 bedroom Estimate | $2,184 | $1,966–$2,402 |
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 Clay actually rent for?
Search any address in Clay 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 Clay somewhere between $896 and $1,095. 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.
$995 a month is affordable, by HUD's 30% rule, on an income of roughly $39,800 a year. Put another way, $19 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%$896 | Voucher pays at 100%$995 | Voucher pays at 110%$1,095 |
|---|---|---|---|---|
| $2,500 | $750 | $146 | $245 | $345 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 8% from FY 2026 ($925) to FY 2027 ($995). Since FY 2020 it's up 53% in total, about 6.3% 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 | $492 | $509 | $649 | $906 | $969 | — |
| FY 2021 | $514 | $519 | $663 | $949 | $957 | +2.2% |
| FY 2022 | $528 | $532 | $676 | $960 | $1,080 | +2.0% |
| FY 2023 | $589 | $593 | $747 | $1,062 | $1,168 | +10.5% |
| FY 2024 | $651 | $655 | $861 | $1,213 | $1,277 | +15.3% |
| FY 2025 | $681 | $685 | $899 | $1,254 | $1,259 | +4.4% |
| FY 2026 | $700 | $705 | $925 | $1,286 | $1,289 | +2.9% |
| FY 2027In effect | $756 | $761 | $995 | $1,360 | $1,365 | +7.6% |
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 Clay, that runs from $756 for a studio up to $1,365 for four bedrooms, all five rates in the table above.
Because Clay sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Celina included.
Among Tennessee's 95 counties, Clay ranks 60th for two-bedroom FMR. That's about 5% below the state median of $1,048 and about 6% below the national median county at $1,063. About 7,670 people live here, 90th in the state.
Rates by ZIP code
HUD also publishes Small Area FMRs by ZIP code. For the 2 ZIP codes it covers in Clay, the two-bedroom rate is $1,000 across the board, so there's no ZIP-level story here.
Nearby counties
Two-bedroom FMR, with how each compares to Clay.
Jackson County
15 mi · 12,029 people
$995
same rate
Macon County
20 mi · 26,240 people
$995
same rate
Overton County
22 mi · 23,065 people
$995
same rate
Pickett County
24 mi · 5,079 people
$995
same rate
Putnam County
28 mi · 82,558 people
$1,102
+11%
Smith County
30 mi · 20,389 people
$1,146
+15%
Trousdale County
35 mi · 11,957 people
$1,798
+81%
Fentress County
37 mi · 19,309 people
$995
same rate
Questions people ask
$995 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $756 for a studio, $761 for one bedroom, $1,360 for three and $1,365 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 Clay actually go for?
HUD's number is one input. Search any address in Clay for a rent estimate built from nearby comps. Free to start, no card.
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