Location: Birmingham-Hoover, AL | Metro: Birmingham-Hoover, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,600 |
| 1 Bedroom | $1,720 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP code 35249 for Section 8 purposes, follow these steps:
If the FMR of $1240 does not sufficiently cover your debt service requirements, then the answer is No. Do not proceed with purchasing a property in this ZIP code for Section 8 purposes.
If the market rent is significantly above $1240, it suggests that properties in this area may be more desirable for non-Section 8 tenants, leading to a No. Conversely, if the market rent is at or below $1240, this indicates a potential alignment with Section 8 guidelines, resulting in an It Depends.
If there is a high percentage of renters and the DOM is low, indicating strong demand, then the answer is Yes. However, if the percentage of renters is low and the DOM is high, signaling weak demand, the answer is No. In cases where the demand factors are moderate, the decision becomes It Depends, as other factors such as location, property condition, and local competition will play a role.
Note: The data provided contains placeholders for specific metrics (N/A), which would need to be replaced with actual values to make an informed decision. Without concrete figures for market rent, percentage of renters, and DOM, the analysis remains incomplete.
Data Sources: FMR data from HUD (2027). 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.