Morristown, TN · Tennessee
Grainger County
ZIP 37881
23,929 residents59 permits TTM$51,351 median HHI6 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$172,000
ACS 5-Year
Cap rate proxy
5.1%
FMR × 0.65 ÷ Home Value
Rent-to-income
17.0%
HUD FMR ÷ ACS HHI
Net migration
+1.71%
IRS SOI
Permits (TTM)
59
Census BPS
Climate risk
18.6
FEMA NRI (0–100)
ZIP 37881
Median home value
—
Gross yield
—
Buy Box score
0.6
Section 8 gap
—
Affordability
P/I: 4.1R/I: —
Section 8 detail
SAFMR: —Rent: —Gap: —
ZIP code breakdown6 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 37848 | $172,000county est. | $1,070 | 7.5% | 5.1% | 32.1% |
| 37881 | — | — | — | 4.1% | — |
| 37888 | $229,948 | $1,020 | 5.3% | 3.8% | 28.8% |
| 37708 | — | — | — | 3.4% | — |
| 37861 | — | — | — | 3.2% | — |
| 37709 | $320,700 | $1,070 | 4.0% | 2.7% | 32.1% |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
78.7%
Census ACS
Vacancy rate
18.6%
Census ACS
Bachelor's degree +
14.9%
Census ACS
Rent burdened
36.9%
Census ACS (>30% income)
Median age
45.7
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026