Location: Winston County, AL | Metro: Walker County, AL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $241,753 | 0.55% | F |
U.S. Census Bureau data (2024)
19.7% of residents in ZIP 35503 are renters, indicating a moderate demand for rental properties. The $860 Fair Market Rent (FMR) set for metro areas in fiscal year 2026 highlights the rental price benchmark for Section 8 vouchers. This is notably higher than the $724 average market rent reported by the Census Bureau's American Community Survey, suggesting that Section 8 tenants can cover the typical rental costs in the area. Landlords can expect a steady stream of potential tenants, given the median income of $63,508, which supports a reasonable level of financial stability among residents.
The median home value of $162,180 offers a clear snapshot of the overall housing market in ZIP 35503. While the data on days on market (DOM) is not available, the 0.2% price-cut share indicates that homes are generally selling at or near their listed prices, showing a strong seller's market where landlords can confidently maintain their property values without needing to reduce asking prices.
Investors should note that the gap between the FMR and the market rent is significant, allowing for competitive pricing while still being within the limits of what Section 8 can cover. With the FMR at $860, landlords can attract tenants who qualify for assistance, ensuring a stable source of rental income. The median income figure further supports the viability of renting to Section 8 tenants, as it shows that local residents can afford the cost of living, including rent.
In conclusion, the data points towards a favorable environment for landlords participating in the Section 8 program in ZIP 35503. The combination of a moderate renter population, a supportive median income, and a fair market rent that exceeds the average market rent makes it a viable option. Landlords can secure a steady income stream without the risk of having to cut prices to attract tenants.
Section 8 Verdict: Favorable for landlords in ZIP 35503.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.