HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Franklin County, Tennessee (FY 2026)
$980 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Franklin County, and it's the baseline every voucher in Franklin is measured against.
2 bedroom FMR
$980
FY 2026, utilities included
Payment standard range
$882 to $1,078
90% to 110% of FMR
Income to afford 2BR
$39,200
per year, at 30% of income
Rank in Tennessee
47th of 95
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Franklin moves to $1,060. That's up 8%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Franklin actually rent for?
Search any address in Franklin for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $742 | $668 to $816 | $29,680 | $14.27/hr | +3.3% |
| 1 bedroom | $747 | $672 to $822 | $29,880 | $14.37/hr | +3.3% |
| 2 bedroom | $980 | $882 to $1,078 | $39,200 | $18.85/hr | +3.4% |
| 3 bedroom | $1,307 | $1,176 to $1,438 | $52,280 | $25.13/hr | +5.1% |
| 4 bedroom | $1,622 | $1,460 to $1,784 | $64,880 | $31.19/hr | +7.3% |
5 to 8 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 | $1,865 | $1,679 to $2,052 |
| 6 bedroom Estimate | $2,109 | $1,898 to $2,320 |
| 7 bedroom Estimate | $2,352 | $2,117 to $2,587 |
| 8 bedroom Estimate | $2,595 | $2,336 to $2,855 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
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 2026 that's October 1, 2025 through September 30, 2026. In Franklin, that runs from $742 for a studio up to $1,622 for four bedrooms, all five rates in the table above.
Because Franklin 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, Sewanee included.
Among Tennessee's 95 counties, Franklin ranks 47th for two-bedroom FMR. That's within a couple percent of the state median of $975 and about 4% below the national median county at $1,018. About 42,980 people live here, 36th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $930 in 37318 (Cowan) and $1,460 in 37375 (Sewanee), with the 9 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
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 Franklin somewhere between $882 and $1,078. 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.
$980 a month is affordable, by HUD's 30% rule, on an income of roughly $39,200 a year. Put another way, $19 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($882) | HAP at 100% ($980) | HAP at 110% ($1,078) |
|---|---|---|---|---|
| $2,500 | $750 | $132 | $230 | $328 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($948) to FY 2026 ($980). Since FY 2020 it's up 51% in total, about 7.1% a year. The Tennessee median moved up 3% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $492 | $498 | $649 | $936 | $1,081 | — |
| FY 2021 | $509 | $512 | $663 | $949 | $1,090 | +2.2% |
| FY 2022 | $539 | $542 | $677 | $941 | $1,052 | +2.1% |
| FY 2023 | $623 | $629 | $764 | $1,020 | $1,158 | +12.9% |
| FY 2024 | $731 | $735 | $909 | $1,175 | $1,384 | +19.0% |
| FY 2025 | $718 | $723 | $948 | $1,244 | $1,511 | +4.3% |
| FY 2026 | $742 | $747 | $980 | $1,307 | $1,622 | +3.4% |
| FY 2027 | $805 | $810 | $1,060 | $1,403 | $1,772 | +8.2% |
Nearby counties
Questions people ask
$980 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $742 for a studio, $747 for one bedroom, $1,307 for three and $1,622 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the 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
See what income a household needs for a given rent.
What does a rental in Franklin actually go for?
HUD's number is one input. Search any address in Franklin for a rent estimate built from nearby comps. 3 free searches, no card.
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