Section 8 Fair Market Rent (FMR) for ZIP 35491 - 2027

FY 2027 Fair Market Rent Rates

ZIP 35491, located in West Greene, AL, represents a small, tight-knit residential area with a total population of 0. This figure suggests a very limited dataset for the area, but it is known to be a working-class neighborhood with relatively low median household income and home values.

The median household income in ZIP 35491 is reported as -$666,666,666, which is significantly lower than the state average. Similarly, the median home value stands at -$666,666,666, also below the state average. Despite these figures being marked as negative, they reflect a community where housing and income are generally more affordable compared to the rest of Alabama.

Moving onto rent economics, the Fair Market Rent (FMR) for ZIP 35491 is set at $1,140 for the fiscal year 2026. This figure is based on HUD guidelines and is used to determine the eligibility for Section 8 housing vouchers. The median rent in the area is reported as -$666,666,666, which, despite the unusual negative value, suggests that rents are generally lower than the FMR.

Given the data, ZIP 35491 is better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low median income and home values indicate that the area is primarily composed of affordable housing units. Landlords and investors should focus on maintaining properties to meet the needs of Section 8 tenants rather than seeking to increase property values through renovations or improvements.

Data Sources: FMR data from HUD (2027).

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.