Section 8 Fair Market Rent (FMR) for ZIP 35476 - 2027

Location: Tuscaloosa, AL | Metro: Tuscaloosa, AL HUD Metro FMR Area

Investment Score for ZIP 35476

Monthly Rent (2BR)

$1,130

Median Price (2BR)

$194,362

1% Rule

0.58%

Annual Yield

6.98%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$940
1 Bedroom	$950
2 Bedrooms	$1,130
3 Bedrooms	$1,430
4 Bedrooms	$1,490
5 Bedrooms	$1,728
6 Bedrooms	$1,935
7 Bedrooms	$2,090
8 Bedrooms	$2,195

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,130	$194,362	0.58%	F
3BR	$1,430	$240,331	0.6%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

8,521

Median Household Income

$61,154

Housing Units

3,561

Renter Percentage

58.8%

Occupancy Rate

91.9%

Renter Occupied

1,926

Northport, AL, located in ZIP code 35476, is a suburban area that offers a blend of affordability and proximity to urban amenities, making it attractive for both residents and investors. The housing market here reflects a mix of homeownership and rental opportunities, with significant insights into the financial landscape.

The Fair Market Rent (FMR) for ZIP 35476 in fiscal year 2024 is set at $1080, indicating the average monthly rental cost for a modest apartment in the area.
The Zillow Observed Rental Index (ZORI) places the market rent at $1,021, which closely aligns with the FMR, suggesting that the rental market is stable and reflective of broader economic conditions.
The median home value in Northport is $195,167, providing a benchmark for property values and indicating the general affordability of the housing stock.
Renters make up 58.8% of the population, a high percentage that underscores the strong demand for rental properties in the area.
The median household income in Northport is $61,154, offering insight into the earning potential and spending power of the local residents.

The data points highlight a robust rental market with a slight premium over typical market rents, driven by a high proportion of renters and relatively stable property values. Investors should consider the alignment between FMR and ZORI as indicative of a balanced market, while the median income suggests that residents have the means to support rental prices. Given these factors, Northport presents a favorable environment for rental investments, particularly in properties that can be rented close to the FMR without significant vacancy risks.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.