Rent in Smith County, TN (FY2027 Fair Market Rents)
HUD’s FY2027 Fair Market Rent for a 2-bedroom in Smith County, TN is $1,146 a month including utilities — 17% below the Tennessee average and 35% below the U.S. You’d need about $45,840 a year to keep it at 30% of income — check yours.
Fair Market Rent by bedrooms
Compared with Tennessee and the U.S.
Smith County, TN 2-bedroom FMR vs the population-weighted average 2-bedroom FMR.
Rent affordability check
Compares the FY2027 Fair Market Rents for Smith County, TN with 30% of your gross monthly income — HUD’s line for a “cost-burdened” renter. For the 28/36 rule and your debts, use the full rent affordability calculator.
Income needed to rent in Smith County, TN
Gross yearly income so that rent plus utilities is 30% of income; hourly = yearly ÷ 2,080 hours.
Counties in this FMR area
Smith County, TN
HUD FMR area: Smith County, TN · population 20,389 (HUD file). Every place in the area has the same FMR.
Other metro areas in Tennessee
What a Fair Market Rent is (and is not)
A Fair Market Rent (FMR) is set every year by the U.S. Department of Housing and Urban Development (HUD). It is HUD’s estimate of the 40th-percentile gross rent — rent plus utilities (except phone, cable and internet) — paid by recent movers into standard-quality, non-luxury rental homes in an area. In other words, about 40% of recently rented units in the area cost less than the FMR and about 60% cost more.
FMRs are not asking rents and not the price of any specific listing. They are built from Census Bureau American Community Survey rents and updated with inflation and trend factors, so they lag the newest listings and smooth out neighborhood differences. HUD uses them to set Housing Choice Voucher (Section 8) payment standards and other program rents. Treat them as a solid, official benchmark for a typical modest rental — new listings in popular neighborhoods often cost more.
Questions & answers
What is the Fair Market Rent in Smith County, TN?
HUD’s FY2027 Fair Market Rents for Smith County, TN are: studio $870, 1-bedroom $876, 2-bedroom $1,146, 3-bedroom $1,407 and 4-bedroom $1,506 a month, including utilities. They took effect on October 1, 2026.
How much income do I need to rent in Smith County, TN?
At the 30% rule, a 1-bedroom at $876 needs $35,040 a year and a 2-bedroom at $1,146 needs $45,840 a year in gross income (about $22.04 an hour full-time).
Is rent in Smith County, TN higher than in the rest of Tennessee?
The 2-bedroom FMR of $1,146 is 17% below the Tennessee average of $1,381 and 35% below the U.S. average of $1,761.
Did rent go up in Smith County, TN?
The 2-bedroom FMR changed +9.0%, from $1,051 in FY2026 to $1,146 in FY2027.
Why are listings higher than the Fair Market Rent?
The FMR is a 40th-percentile estimate of rent plus utilities paid by recent movers into modest, standard-quality units, built from Census survey data. About 60% of recently rented units cost more, and listing sites often show newer or better-located units.
Do Section 8 vouchers pay the Fair Market Rent?
Local public housing agencies set voucher payment standards, usually between 90% and 110% of the FMR. Check with your local housing authority for the exact payment standard.
Source: HUD User, FY2027 Fair Market Rents (effective October 1, 2026; Federal Register notice), compared with FY2026 revised FMRs. HUD data is in the public domain. State and U.S. averages are Tachlis calculations weighted by each county’s population as listed in HUD’s file. HUD may revise FMRs for areas that request a reevaluation.
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