Location: Greene County, AL | Metro: Greene County, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
ZIP 35462, located in Greene County, Alabama, is a strategic fit for a Section 8 portfolio due to its characteristics as a cash-flow anchor. The Family Monthly Rent (FMR) for the area in fiscal year 2024 is set at $980, which significantly exceeds the average market rent of $431. This creates a strong positive spread, ensuring that landlords can benefit from higher rental income compared to the local market rates.
The median home value in ZIP 35462 stands at $131,143, indicating a relatively affordable housing market. However, the focus on Section 8 properties means that landlords are not reliant on appreciation as a primary source of returns. Instead, the emphasis should be on stable cash flows, which this ZIP code provides through the guaranteed rental income from the government subsidy program.
A key metric supporting the cash-flow anchor strategy is the median income of $31,528. This figure aligns well with the income eligibility requirements for Section 8 tenants, making it likely that the demand for subsidized housing will remain robust. With 49.5% of the population being renters, there is a substantial pool of potential tenants who qualify for the Section 8 program, further solidifying the cash flow stability.
In conclusion, ZIP 35462 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The significant difference between the HUD-set FMR and the local market rent ensures steady and above-average income, while the median income and high renter share indicate a consistent demand for subsidized housing. These factors make it an ideal location for landlords seeking reliable rental income streams.
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.