FY2026 Fair Market Rents — Franklin County
Studio
$742
1BR
$747
2BR
$980
3BR
$1,307
4BR
$1,622
Franklin County, Tennessee
FIPS 47051 · County-level FMR and income limit data
FMR Area: Franklin County, TN
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $742 | $8,904 |
| 1-Bedroom | $747 | $8,964 |
| 2-Bedroom | $980 | $11,760 |
| 3-Bedroom | $1,307 | $15,684 |
| 4-Bedroom | $1,622 | $19,464 |
To afford the FY2026 2-bedroom FMR of $980/mo under the 30%-of-income rule, a household needs about
$39,200/yr ($3,267/mo). Area Median Income is $83,300.
At TN's federal minimum wage of $7.25/hr, a worker would need to work 104 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $742 | $747 | $980 | $1,307 | $1,622 |
| FY2025 | $718 | $723 | $948 | $1,244 | $1,511 |
| FY2024 | $731 | $735 | $909 | $1,175 | $1,384 |
| FY2023 | $623 | $629 | $764 | $1,020 | $1,158 |
| FY2022 | $539 | $542 | $677 | $941 | $1,052 |
| FY2021 | $509 | $512 | $663 | $949 | $1,090 |
| FY2020 | $492 | $498 | $649 | $936 | $1,081 |
FY2026 Income Limits
Area Median Income: $83,300
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $17,500 | $21,640 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $29,200 | $33,350 | $37,500 | $41,650 | $45,000 | $48,350 |
| 80% AMI | $46,700 | $53,350 | $60,000 | $66,650 | $72,000 | $77,350 |