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RentData.org Logo Morristown Fair Market Rent FY 2021 Morristown, TN MSA Rental Data

Fair Market Rent Prices in Morristown, TN :
$568 $571 $753 $1,028 $1,032
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Metro Area

Fair Market Rent prices in Morristown are low compared to the national average. This FMR area is less expensive than 56% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Morristown is $753 per month.

The previous year, rent for a two-bedroom home was $738 per month. This is a 2.03% increase year-over-year.

This FMR rate applies to Lowland, TN, Whitesburg, TN, Russellville, TN, White Pine, TN, Talbott, TN, Morristown, TN and other cities within the region. The Metro Code or CBSA code for this region is METRO34100M34100.

Additionally, This Fair Market Rent (FMR) area Morristown, TN MSA spans one county or city in Tennessee which is listed in the table below. Estimated population of Morristown, TN MSA FMR area is 63,465 people based on latest Census data.

Compared to the rest of Tennessee, the Morristown FMR area is more expensive than 80% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Morristown. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Morristown

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 600
1-BR 1-Bedroom $ 604
2-BR 2-Bedroom $ 796
3-BR 3-Bedroom $ 1087
4-BR 4-Bedroom $ 1091
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

There is just one county (listed below) within the Morristown, TN MSA FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Knoxville.

County / Region Est. Population
Morristown, TN Metro 63,465
Zip Codes in Morristown, TN MSA

There are 9 unique zip codes in this Fair Market Rent (FMR) area:

37778, 37813, 37814, 37815, 37816, 37860, 37877, 37890 and 37891

Lookup Fair Market Rent by Zip Code

What's Next?

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