Location: Marion County, AL | Metro: Marion County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 35543 in metro FY 2026 is set at $860. This figure represents the payment standard used by the Housing Choice Voucher Program, commonly known as Section 8. It's important to note that this does not directly translate to the amount you will receive as rent; rather, it's the maximum amount the program will pay towards a tenant's housing costs.
Local market data from the Census ACS indicates that the average rent in ZIP 35543 is around $760. The FMR being higher suggests that landlords participating in Section 8 can potentially charge more than the typical market rate, up to the $860 limit, without risking non-payment from tenants who rely on vouchers.
The 21.5% renter share in this area signifies that over one-fifth of households are renters, indicating a reasonable demand for rental properties. This percentage supports the idea that there is a substantial pool of potential tenants who might benefit from Section 8 assistance.
Regarding acquisition costs, the data provided shows it as N/A, which implies that specific figures for buying property in this area aren't available. However, this doesn't necessarily mean that purchasing a rental property is out of reach. Landlords should consider the overall affordability of the area and consult real estate agents or local market reports to get an accurate sense of property values.
A critical factor for landlords to verify before committing to a Section 8 rental is the condition of the property. The Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD) must be met. This includes ensuring that your property is free from health and safety hazards, has adequate heating, plumbing, and electrical systems, and is generally well-maintained. HUD provides a detailed checklist that landlords can use to assess whether their property meets these standards.
In summary, the FMR of $860 provides a benchmark for what the government will subsidize, offering a slightly higher rate than the local average of $760. With 21.5% of households renting, there is a solid base of potential tenants. Before proceeding, ensure your property complies with HQS to avoid any issues with eligibility.
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.