Location: Pickens County, AL | Metro: Pickens County, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
870 is the Fair Market Rent (FMR) for ZIP 35461 as of fiscal year 2024, indicating the baseline rental rate set by HUD for the area. 156,536 represents the median home value, suggesting that properties within this ZIP code are generally priced at this level. 8.5% is the proportion of renters in ZIP 35461, reflecting a relatively low percentage of the population that relies on rental housing, which might imply a competitive market for landlords. 47,375 is the median income figure, providing insight into the financial capacity of potential tenants. While the days on market (DOM) and price-cut share data are not available, the combination of the FMR and median home value offers a clear picture of the rental and property market dynamics.
In ZIP 35461, landlords can expect to charge close to the FMR of $870 for their properties, aligning with HUD standards. The median home value of $156,536 suggests that there is a significant investment in real estate within this area, potentially leading to higher property taxes and maintenance costs. With only 8.5% of the population being renters, competition among landlords could be fierce, necessitating well-maintained and competitively priced units to attract tenants. The median income of $47,375 provides a benchmark for assessing the affordability of rents for local residents, ensuring that rental prices remain within reach for the majority of the population.
To succeed in ZIP 35461, landlords must focus on maintaining high-quality properties while keeping rents at or below the FMR of $870. Small-portfolio investors should consider the median home value of $156,536 when evaluating potential investments, balancing the cost of acquisition against the expected rental income. Given the low renter share of 8.5%, it's crucial to understand the local market deeply to avoid overpricing properties and losing potential tenants to competitors. The lack of specific DOM and price-cut share data limits detailed analysis but does not negate the importance of the other figures in guiding investment decisions.
Based on these metrics, the verdict for Section 8 participation in ZIP 35461 is positive, given the alignment between the FMR and median income levels, ensuring that rents are affordable for eligible tenants. However, landlords must be prepared to navigate a competitive market and maintain properties to a standard that meets both tenant expectations and government requirements.
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.