ZIP reports / TN / 37128
ZIP rental intelligence · 2026-06

ZIP 37128, Murfreesboro, TN

Asking rent, household capacity, housing stock and local context—kept at their original geographic and measurement scopes.

Direct local rent answer

What does rent cost in ZIP 37128?

The latest Zillow ZORI for ZIP 37128 is $1,734 per month in 2026-06. It is a typical observed asking-rent index across rental types—not an arithmetic average, signed lease or quote for one property.

Zillow asking-rent index$1,7342026-06 · up 2.3% year over year
ACS median gross rent$1,658ACS 2024 5-year survey · ±$68 margin of error
HUD two-bedroom standard$1,800Administrative FMR/SAFMR · not asking rent
Bedroom-level rent benchmarks in ZIP 37128
BedroomsModelled asking-rent lensHUD standardHow to use it
Studio$1,512ZORI scaled by the local HUD bedroom ladder$1,570HUD FMR/SAFMR administrative benchmarkCompare with current same-bedroom listings; do not average these two measures.
1 bedroom$1,580ZORI scaled by the local HUD bedroom ladder$1,640HUD FMR/SAFMR administrative benchmarkCompare with current same-bedroom listings; do not average these two measures.
2 bedrooms$1,734ZORI scaled by the local HUD bedroom ladder$1,800HUD FMR/SAFMR administrative benchmarkCompare with current same-bedroom listings; do not average these two measures.
3 bedrooms$2,216ZORI scaled by the local HUD bedroom ladder$2,300HUD FMR/SAFMR administrative benchmarkCompare with current same-bedroom listings; do not average these two measures.
4 bedrooms$2,697ZORI scaled by the local HUD bedroom ladder$2,800HUD FMR/SAFMR administrative benchmarkCompare with current same-bedroom listings; do not average these two measures.

Bedroom estimates are modelled, not observed rents. Zillow, Census ACS and HUD describe different housing universes and remain separate throughout this report.Zillow pulled 2026-08-08

Median household income$93,665ACS 2024 5-year · ±$5,919 MOE
Renter share36.3%10,523 renter households
Rent burden 30%+50.7%5,338 observed households
Housing vacancy5.5%1,683 of 30,651 units
Six views · one local decision

Read the measures together, without merging them

ZORI tracks observed asking rent, ACS describes occupied renter homes, and HUD publishes an administrative benchmark. The charts preserve those differences and add wider context only where the geography is named.

Three definitions of rent

Useful as a spread, not interchangeable observations.

Three rent measures for ZIP 37128Zillow asking-rent index$1,734ACS median gross rent$1,658HUD two-bedroom standard$1,800

Affordability screen

Annual income implied by 30% of the current ZIP ZORI.

Income screen for ZIP 37128ACS median household income$93,665Income at 30% of ZIP ZORI$69,360

Bedroom ladder

Modelled from ZIP ZORI using the local HUD ladder.

Modelled bedroom rent ladder for ZIP 37128Studio$1,512One bedroom$1,580Two bedrooms$1,734Three bedrooms$2,216Four bedrooms$2,697

Observed renter burden

ACS ZCTA households with computable gross-rent burden.

Observed renter cost burden in ZCTA 3712830% or more of income5,338 householdsBelow 30%5,185 households

ZIP versus wider rent context

Each bar retains its own ZIP, city, county or metro scope.

Asking-rent context for ZIP 37128ZIP 37128$1,734Murfreesboro city$1,687Rutherford County county$1,724Nashville-Davidson--Murfreesboro--Franklin, TN metro$1,810

Monthly asking-rent history

Direct Zillow ZORI observations over the latest five years. Missing months remain visible gaps.

Five-year direct Zillow asking-rent history for ZIP 37128; missing months remain gaps$1,782$1,635$1,488$1,3412021-062023-122026-06
Five-year change
24.8%exact same-month endpoints
Largest observed drawdown
1.6%peak to a later observed month
Annualized monthly variability
2.3%134 consecutive returns
Monthly coverage
99.3%136 of 137 months
Decision brief

What the evidence says for ZIP 37128

The immediate decision question for this ZIP is not whether a single market statistic describes a unit, but how a current ZIP benchmark should be used alongside bedroom, household, and inventory evidence. In June 2026, Zillow ZORI is $1,734 per month, up 2.3% year over year. ZORI is Zillow’s ZIP-level typical observed asking-rent index, blended across rental types, rather than a quote for a specified home. The five-digit label is both a Zillow ZIP market identifier and a Census ZCTA match; a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. Its decision value is a timely market reference, while the separate evidence sets below frame size, household cost exposure, and unit-search uncertainty.

Bedroom-specific figures answer a narrower sizing question, but they do not supply measured ZIP rents. The FY 2026 local HUD ladder ranges from $1,570 for a studio to $2,800 for a four-bedroom home. Scaling ZIP ZORI using the local HUD ladder yields modelled monthly estimates of $1,512, $1,580, $1,734, $2,216, and $2,697, respectively, from studios through four-bedroom configurations. The middle estimate matches the overall index by construction, not through a separate observation. The sequence carries HUD’s relative bedroom pattern into an overall ZIP benchmark and cannot describe a bedroom-specific distribution of listings. These are modelled estimates, never measured bedroom rents; they are a sizing framework, not a record of available units, signed leases, or landlord quotes.

The matched ZCTA ACS 2024 five-year survey supplies a different historical lens: median gross rent is $1,658, with a ±$68 margin of error, among occupied renter homes and including selected utilities. The current ZORI is 4.6% above that survey median, but this contrast is not a growth measure or a unit-level spread because population, rent concept, and timing differ. HUD FMR/SAFMR is an administrative bedroom-specific standard, not asking rent. As a benchmark contrast only, ZORI is 3.7% below the HUD two-bedroom standard of $1,800. Neither HUD nor ACS should be merged into Zillow’s index or treated as verification of any listing price.

Household context shows both an income reference and an observed burden measure, with important boundaries. In the ACS ZCTA, median household income is $93,665 with a ±$5,919 margin of error; it is a household-wide statistic, not a renter-income or applicant-income figure. At the structural 30% threshold, the arithmetic annual income screen for the current ZORI is $69,360. That calculation is not advice and not an applicant qualification rule. Renters account for 36.3% of occupied housing units in the ZCTA. ACS estimates that 5,338 renter households, or 50.7% of its renter total, reported rent burdens at or above that threshold, with a ±918 margin of error for the burden count. This observed burden describes a surveyed population and cannot prove affordability or burden for a particular unit.

Housing stock helps distinguish a broad inventory count from a rental listing count. In the ACS ZCTA, there are 30,651 housing units and 1,683 vacancies, producing a 5.5% vacancy rate. Of the vacant units, 486 are classified for rent, 242 for sale, and 47 for seasonal use. The stock also includes 23,124 single-family units and 2,620 units in large multifamily structures, a mix that does not identify the rental status, price, or condition of any building. The for-rent vacancy count identifies an aggregate category, but it does not show which homes are marketed now, what bedroom sizes they have, or whether their terms align with either ZORI or HUD.

Wider comparisons keep the ZIP reading in geographic context without replacing it. At the City of Murfreesboro scope, contextual rent is $1,687; at the Rutherford County scope, contextual rent is $1,724; and at the Nashville-Davidson--Murfreesboro--Franklin, TN metro scope, contextual rent is $1,810. The ZIP benchmark is higher than the city and county context figures but lower than the metro context figure. These are aggregate context values, not evidence that a particular ZIP property should be priced at the city, county, or metro reading. The differing named scopes and source definitions prevent city, county, and metro context from replacing either the ZIP index or the ZCTA survey.

The limits are operational: ZORI is an index, ACS is a survey with margins of error, HUD is an administrative standard, and the ZCTA boundary does not replicate USPS delivery geography. No supplied series determines an individual lease price, vacancy status, utility package, or applicant outcome. For a property-level decision, verify the current quoted rent, exact address and reporting geography, bedroom count, property type, utility inclusions, lease term, recurring mandatory charges, deposits, concessions, and availability date. Confirm that the advertised price applies to the exact unit rather than a starting price, and distinguish an asking amount from total recurring cost. These checks keep the modelled ladder, the burden statistic, and the vacancy categories in their proper aggregate roles.

Decision signals

What deserves a closer property-level check

Current benchmark is not a unit quote

June 2026 ZORI gives the ZIP’s current typical observed asking-rent reference. Because it blends rental types, it cannot specify a property’s bedroom count, condition, utility treatment, lease structure, or availability. The matched ZCTA label supports alignment with ACS tabulations, but it remains a statistical geography rather than a USPS delivery ZIP. Use the figure as a market reference, not a lease offer.

Bedroom schedule is modelled

The studio-through-four-bedroom schedule is constructed by scaling the ZIP ZORI with the local HUD ladder. It is a modelled set of monthly estimates, not a survey or record of measured bedroom rents. The displayed pattern is most useful for testing whether a prospective unit’s stated size fits the model’s relative ladder. HUD FMR/SAFMR supplies an administrative standard and does not establish an asking rent.

Burden is a population signal

The ACS ZCTA estimates show renters represent 36.3% of occupied homes and that 50.7% of renter households reported rent burdens at or above the stated threshold. This describes survey respondents across occupied renter homes, not the financial position of a current applicant or an attribute of a particular listing. The annual income screen uses ZORI arithmetically and is not a qualification standard.

Vacancy composition needs unit verification

ACS identifies 486 vacant units as for rent within a larger vacant inventory, but that classification does not list properties or confirm availability. The stock mix and vacancy rate remain aggregate characteristics of the matched ZCTA. A user still needs property-specific price, size, utility, term, charge, and availability information before treating any market measure as relevant to an actual listing.

  • Zillow ZORI, ACS gross rent, and HUD FMR/SAFMR differ in timing, population, rent definition, and purpose. Treating them as interchangeable would create false precision around any individual advertised unit.
  • ACS estimates are drawn from the matched ZCTA and include reported margins of error. They reflect a five-year survey period while the Zillow index is dated later, so timing and sampling uncertainty remain material.
  • A vacant-for-rent classification is not evidence that a particular property is currently available, affordable, or accepting applicants. It also does not disclose condition, lease terms, utilities, or mandatory charges.
  • City, county, and metro figures are wider context values, not ZIP measurements. They can frame scale, but cannot verify a ZIP-level bedroom price, a particular property’s vacancy, or its lease terms.
Direct ZIP resale evidence

For-sale liquidity inside ZIP 37128

Redfin reports these as a rolling three-month ZIP observation through 2026-06-30. They describe the for-sale market, not rental vacancy or the rent of a particular property.

Median sale price$435,016+0.6% year over year
Homes sold366rolling three-month observation
Median days on market63 daysfor-sale listing absorption
Months of supply3.9resale inventory relative to sales pace

Activity and available supply

Direct ZIP counts remain separate because each describes a different stage of the resale funnel.

Direct resale activity for ZIP 37128Active listings832Inventory468Pending sales371Homes sold366

Counter-signals before underwriting

A price alone does not reveal how quickly buyers are absorbing available homes.

Inventory direction

468 observed inventory · +7.3% year over year.

Price realization

99.2% average sale-to-list ratio · 14.6% sold above original list.

Early absorption

28.5% went off market within two weeks; compare this with 63 median days on market.

Measurement boundary

Small ZIP samples can move sharply. This rolling period smooths monthly noise but does not replace current address-level sale and rent comparables.

Redfin Data Center · updated 2026-07-03 · exact five-digit ZIP key. Implausible source values are withheld as n/a rather than repaired or inherited from a broader geography.

Wider market evidence

Listing and rental liquidity around the ZIP

These measures are not ZIP observations. They are labelled county or metro context so they can challenge the local story without being copied into it.

Rutherford County listing conditions

1,491 active Realtor.com listings · 50 median days on market · 19.5% price-reduced share · 2026-06.

Nashville-Davidson--Murfreesboro--Franklin, TN resale supply

4.4 months of supply · 62 median days on market · 25.2% listings with price drops · Redfin 2026-05-01.

Apartment List metro liquidity

8.1% reported apartment vacancy · 33 days on market. These are direct metro observations and do not describe a particular ZIP unit.

Property-level next step

Compare live same-bedroom listings, concessions, utilities, condition and days listed inside ZIP 37128. The report frames the market; it does not replace a rent roll, lease review or address-level comparable set.

Questions this report can answer

Scope-aware answers

What does the ZIP label match, and what does it not match?

The ZIP label used here is both Zillow’s market identifier and the matched Census ZCTA. That alignment enables geographic comparison within the packet, but a ZCTA is a statistical tabulation area. It does not reproduce USPS delivery-ZIP boundaries or establish that every addressed property belongs to the same reporting geography.

Why are the bedroom figures called modelled estimates?

Zillow provides an overall ZIP ZORI rather than observed bedroom-specific rents in this packet. The studio-through-four-bedroom amounts are obtained by applying the relative local HUD bedroom ladder to that overall index. They are therefore modelled monthly estimates. They do not measure signed leases, advertised units, or actual rents for a unit with a given bedroom count.

Can Zillow asking rent be compared with ACS gross rent and HUD standards?

It can be contrasted only if definitions stay visible. ZORI is a typical observed asking-rent index across rental types, ACS median gross rent is a five-year survey statistic for occupied renter homes with selected utilities, and HUD FMR/SAFMR is an administrative bedroom-specific standard. None is interchangeable, so a gap does not identify an individual unit’s price, total monthly cost, or lease terms.

What should be checked for a specific property?

Verify the current quoted rent, unit address and its reporting geography, bedroom count, property type, utility inclusions, lease term, recurring mandatory charges, deposits, concessions, and availability date. Confirm whether the advertised price applies to the exact unit rather than a starting rate. These checks are necessary because the supplied sources are aggregate benchmarks and cannot establish property-level vacancy, total move-in cost, or applicant outcome.