Location: Marion County, AL | Metro: Franklin County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
18.5% of residents in ZIP code 35564 are renters, indicating a notable but not overwhelming demand for rental properties. The $780 Fair Market Rent (FMR) for the metro area in fiscal year 2026 sets a benchmark for rental pricing, ensuring compliance with HUD guidelines. At $525, the average market rent based on Census ACS data is significantly below the FMR, suggesting that there's room for landlords to increase rents without exceeding government-set limits. The median home value of $154,185 reflects the overall affordability of the housing market in this region, making it accessible for both homeowners and potential investors looking to purchase properties. With a median income of $44,096, tenants have a reasonable financial capacity to cover rent payments, though landlords should be cautious not to overprice their units. The data does not provide specifics on the number of days on market (DOM) or the percentage of price-cut shares, which could indicate either a robust market where homes sell quickly or a lack of recent sales activity to analyze. However, the gap between the FMR and market rent suggests that landlords can attract tenants while still achieving a higher return on investment. In conclusion, for landlords and small-portfolio investors, ZIP 35564 presents a balanced opportunity with affordable property values and a fair market for rental pricing.
The verdict on Section 8 participation in ZIP 35564 is positive. Landlords can expect to receive rental payments that meet or exceed the $525 market rate, up to the $780 FMR, providing a stable and predictable income stream without the risk of non-payment common in unassisted markets.
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.