Location: Marion County, AL | Metro: Fayette County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The ZIP code 35563 presents a modest tenant pool for Section 8 housing. With a population of 3,789, it has a rental rate of 24.3%, indicating that slightly less than a quarter of residents are tenants. This suggests that while there is some demand for rental properties, it is not overwhelming compared to areas with higher percentages of renters.
The median household income in this ZIP code stands at $52,576, which is important when considering the affordability of market rents. A typical market rent of $600 consumes approximately 11.4% of the median household income. This is calculated by taking the monthly rent ($600) and dividing it by the annual income ($52,576), then multiplying by 12 to get the percentage of annual income spent on rent. This figure is relatively manageable but still represents a significant portion of income for many households.
Comparatively, the Fair Market Rent (FMR) for the metro area is set at $870 for FY 2026. This means that the actual market rent of $600 is below the FMR, potentially making it easier for landlords to find tenants willing to pay the market rate. However, it also implies that landlords may need to adjust their expectations regarding rent prices to align with both the market and the FMR.
In terms of voucher availability, the $600 market rent is well within the bounds of what most Section 8 vouchers can cover. The FMR being higher at $870 indicates that there might be enough funding flexibility to accommodate a range of rental costs, including those in ZIP 35563.
A landlord in this ZIP code should anticipate a tenant pool that includes individuals and families who rely heavily on government assistance to meet housing needs. These tenants will likely be sensitive to any increases in rent or changes in living conditions due to the tight margins between their income and the cost of rent. It is advisable to maintain properties in good condition and adhere to the guidelines set forth by the Section 8 program to ensure compliance and attract these tenants effectively.
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.