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 |
The ZIP code 35236 is located in Birmingham, Alabama. Specific demographic data such as population, percentage of renters, median income, and median home value are not available. However, the unemployment rate in the area is moderate at 3.9%. The neighborhood has a low crime rate, 100% lower than the national average, and no registered sex offenders reside within the zip code.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 35236 in fiscal year 2024 is set at $1240 for a three-bedroom unit. This figure is crucial for landlords and investors involved in Section 8 housing. Despite the lack of detailed market rent data, the FMR provides a benchmark for assessing rental values and potential returns on investment.
Given the limited availability of specific economic data, the ZIP code 35236 may suit both hands-off voucher operators and hands-on value-add buyers. The low crime rate and absence of environmental hazards suggest a stable environment, making it suitable for hands-off management. On the other hand, the moderate unemployment rate and lack of detailed property value data indicate opportunities for hands-on investors to add value through improvements and strategic positioning of their properties within the rental market.
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.