Location: Chilton County, AL | Metro: Birmingham-Hoover, AL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $244,823 | 0.53% | F |
| 4BR | $1,490 | $307,857 | 0.48% | F |
U.S. Census Bureau data (2024)
ZIP code 35115, situated within the Chilton County, AL HUD Metro FMR Area, has a median home value of $244,257. In comparison to the average home values in Chilton County, where the highest median estimated home value of bank-owned homes (REO properties) reaches up to $286,183 in Verbena, ZIP 35115 aligns closer to the mid-tier range rather than being classified as a premium sub-market. This positioning makes it a balanced choice for landlords and small-portfolio investors.
The Fair Market Rent (FMR) for ZIP 35115 is set at $970 for fiscal year 2024, which is slightly above the market rent of $882. This indicates that rental properties in 35115 command a modest premium over the local market average, reflecting a slightly higher demand or quality of housing. Given the renter share of 28.2%, there is a notable segment of the population that prefers renting, which supports the viability of rental investments in this ZIP code.
In summary, ZIP 35115 is best characterized as a mid-tier neighborhood within its metro area. It offers a reasonable balance between home values and rental rates, making it attractive for investors looking for steady returns. While it does not present the characteristics of a value pocket due to its home values being above average, nor does it indicate a premium sub-market, its slightly elevated rental rates and substantial renter share make it a solid investment opportunity within the broader Chilton County real estate landscape.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.