Location: Lamar County, AL | Metro: Tuscaloosa, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,410 |
| 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)
The ZIP code 35574 has a population of 1,225 residents, with 9.5% of them being renters. The median household income in this area stands at $41,818. This indicates that the ZIP is primarily a homeowner-dominated area rather than a renter-heavy one, suggesting that the demand for rental properties using Section 8 vouchers might be limited.
A typical market rent of $725 in this ZIP represents approximately 17.38% of the median household income. When compared to the Fair Market Rent (FMR) of $920, which is set for FY 2024, it's evident that the actual market rent is below the FMR threshold, potentially making it easier for Section 8 tenants to find suitable housing options within their budget.
The low percentage of renters and the relatively high FMR compared to the actual market rent suggest that landlords in ZIP 35574 can expect a tenant profile that is likely to include individuals who are seeking affordable housing options but may also have a preference for homeownership. Landlords should prepare for tenants who are financially constrained and will rely on government assistance to cover their housing costs. These tenants will need to manage their finances carefully, given that the average rent consumes nearly one-fifth of their income. Therefore, landlords should ensure that their properties meet the necessary standards and are competitively priced to attract and retain Section 8 tenants.
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.