Location: Tuscaloosa, AL | Metro: Tuscaloosa, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
15.0% of the residents in ZIP 35458 are renters, indicating a modest demand for rental properties. This statistic, combined with the $980 Fair Market Rent (FMR) for zip FY 2024, suggests that landlords can expect a stable but not overly competitive market. While the median home value is not available, the $64,688 median income provides insight into the financial capacity of the area's inhabitants. Given these figures, it's evident that the majority of residents could afford to pay the FMR without significant strain on their budgets.
N/A-day DOM (Days On Market) and N/A% price-cut share indicate incomplete data regarding the speed at which homes are sold and the frequency of price reductions. However, with the known median income, it's reasonable to assume that the housing market in ZIP 35458 operates within a predictable framework, allowing landlords to set rental prices based on solid economic indicators rather than speculative trends.
The $980 FMR represents a benchmark for rental pricing in the area, ensuring that landlords receive fair compensation for their properties while remaining accessible to renters. Landlords should consider this figure when setting rents to maintain compliance with HUD guidelines and maximize occupancy rates. Furthermore, the relatively low percentage of renters (15.0%) implies that competition among landlords might be less intense compared to areas with higher renter shares, providing an opportunity for landlords to establish a strong foothold in the local rental market.
In conclusion, the data from ZIP 35458 supports a positive outlook for landlords and small-portfolio investors, with the $980 FMR offering a clear guideline for rental pricing. The median income of $64,688 ensures that most renters can comfortably afford the FMR, leading to a stable tenant pool. Despite the lack of detailed sales data, the overall economic health of the area is conducive to successful property management. Therefore, ZIP 35458 is a good fit for Section 8 participation.
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.