Location: Walker County, AL | Metro: Walker County, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
11.1% of residents in ZIP code 35587 are renters, indicating a modest demand for rental properties in the area. $54,773 stands as the median income, which is crucial for assessing the financial stability of potential tenants. While the market rent for ZIP 35587 is currently unavailable, the Fair Market Rent (FMR) set by HUD for the metro area in fiscal year 2026 is $810. This figure provides a benchmark for setting competitive rental rates that align with government standards. The lack of data on days on market (DOM) and the percentage of price-cut shares suggests that the rental market may be less active or that comprehensive market analysis has not been conducted recently. However, given the established FMR and the known median income, landlords and small-portfolio investors can reasonably expect stable occupancy rates among their properties. For those considering the Section 8 program, the $810 FMR serves as an upper limit for rental agreements, ensuring compliance with federal guidelines while still attracting financially secure tenants. With a clear understanding of these key metrics, investors can make informed decisions about their rental investments in ZIP 35587.
Section 8 Verdict: ZIP 35587 offers a stable but modest rental market, suitable for investors willing to adhere to the $810 FMR guideline.
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.