Location: Winston County, AL | Metro: Decatur, AL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
860 FMR (zip FY 2024) sets the maximum rental assistance payment for tenants in ZIP 35540, indicating a significant gap between the federally supported rent and the actual market conditions. 960 market rent (Census ACS) shows that landlords can expect to charge above the FMR, but they must be aware of the competition and the financial capabilities of potential tenants. 182,511 median home value highlights the overall property values in the area, suggesting that investments in rental properties could be valuable given the established housing market. 19.1% renter share underscores the demand for rental properties; however, it also implies that a large portion of the population might prefer homeownership over renting. 65,192 median income indicates the financial stability of the local residents, which is crucial for assessing the likelihood of timely rent payments. Despite these figures, N/A-day DOM and N/A% price-cut share suggest a lack of recent data on how quickly properties are being sold and whether sellers are having to reduce their asking prices, which could be due to limited transactions or a new market. Given the disparity between the FMR and the market rent, landlords should consider the balance between maximizing revenue and ensuring affordability for Section 8 participants. The verdict for Section 8 participation in ZIP 35540 is positive, as long as landlords adhere to the program's guidelines and manage expectations regarding rental income.
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.