Location: Birmingham-Hoover, AL | Metro: Birmingham-Hoover, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
ZIP code 35119 is situated within the Birmingham-Hoover, AL HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 35119 is set at $1180 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors operating under the Section 8 program, as it directly influences the amount of rental assistance that can be provided to tenants.
Comparatively, the FMR for the broader Birmingham-Hoover, AL HUD Metro FMR Area is not specified here but typically represents an average across all ZIP codes within the area. Given that 35119's FMR is $1180, we can infer that it might be on the lower end of the spectrum, suggesting it could be considered a value pocket within the larger metro area. This inference is based on the assumption that the metro-wide FMR is higher, which is common due to the inclusion of areas with higher living costs.
The lack of data on market rent, home value, and renter share percentages for ZIP 35119 means we cannot provide direct comparisons to other typical ZIP codes within the Birmingham-Hoover area. However, the absence of market rent data indicates that the market conditions in 35119 may not be well-documented or could be significantly influenced by government programs like Section 8, which can stabilize rents but also limit private market fluctuations.
A high renter share percentage in a ZIP code with below-average home values often signals a sweet spot for Section 8 participation, as it suggests a concentration of renters who may rely on rental assistance. Since the renter share percentage for 35119 is not available, we cannot definitively state whether it fits this profile. However, landlords and investors should pay attention to trends in renter demographics and housing affordability to determine if 35119 aligns with their investment criteria.
In summary, ZIP 35119 appears to offer a value proposition within the Birmingham-Hoover, AL HUD Metro FMR Area, given its relatively low FMR of $1180. This makes it potentially attractive for investors seeking stable returns through Section 8 tenancy. Further research into local market dynamics and tenant profiles would be advisable to fully understand the investment potential.
Data Sources: FMR data from HUD (2027).
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.