Location: Franklin County, AL | Metro: Franklin County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
17.0% of residents in ZIP 35585 are renters, indicating a modest demand for rental properties. The $955 market rent, as reported by the Census ACS, suggests that landlords can expect this figure as the average monthly rent they might collect. However, the $850 Fair Market Rent (FMR) set for metro areas in fiscal year 2026 indicates a lower benchmark for subsidized housing. This implies that while market rents are higher, the FMR could limit the profitability of Section 8 properties. With a median home value of $196,644, it's clear that property values are relatively stable, offering a solid base for investment. The median income of $92,679 further supports this stability, as it reflects the economic health of the area. Despite these positive indicators, the lack of data on days on market (DOM) and the percentage of price-cut shares means there is uncertainty regarding the speed at which properties sell and the frequency of price reductions. This absence of information could pose a risk to investors looking for quick returns or those sensitive to market fluctuations. In conclusion, despite the economic strength indicated by the median income and home values, the gap between market rents and FMR, along with the missing sales performance data, makes ZIP 35585 a cautiously optimistic investment for Section 8 properties.
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.