Location: Sumter County, AL | Metro: Greene County, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The ZIP code 35464 is heavily weighted towards renters, with 54.6% of the population renting their homes. This indicates a significant demand for rental properties, particularly those that can accommodate Section 8 tenants. The median household income in this area is $15,625, which is notably low compared to national averages.
The typical market rent of $957 represents a substantial portion of the local income. Specifically, it consumes about 61.2% of the median household income, calculated by dividing the rent by the income and multiplying by 100. This high percentage suggests that many residents rely on financial assistance to afford housing.
The Fair Market Rent (FMR) for this ZIP code, set at $860 for FY 2024, is slightly below the current market rent. However, it still offers a benchmark for subsidized housing costs. Landlords who align their rents closer to or below the FMR will likely find it easier to attract and retain Section 8 tenants.
In this environment, landlords should anticipate tenants who are financially dependent on government subsidies to cover a large part of their housing expenses. These tenants typically value stable housing and may be more inclined to adhere to lease terms due to the limited availability of affordable options.
To summarize, ZIP 35464 is characterized by a high density of renters with a strong reliance on rental assistance programs. Given the income levels and the cost of housing, landlords must consider setting competitive rents to attract and maintain tenants who benefit from Section 8 vouchers. The expected tenant profile consists of individuals and families who require financial aid to secure housing, emphasizing the importance of compliance with HUD guidelines and the provision of basic, affordable living spaces.
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.