Location: Marion County, AL | Metro: Franklin County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
54,559 is the median income for ZIP 35593, which provides a baseline for understanding the financial capacity of potential tenants. 170,685 represents the median home value, indicating a moderate housing market where rental properties can offer attractive returns. 12.2% is the share of renters in the area, suggesting a decent demand for rental units. 780 is the Fair Market Rent (FMR) set by HUD for the metro area in fiscal year 2026, which is the maximum amount Section 8 vouchers will cover. 665 is the actual market rent based on Census ACS data, lower than the FMR, showing a gap between what the government subsidizes and what landlords might charge. This gap presents an opportunity for landlords to receive additional funds beyond the market rate, making Section 8 properties potentially more profitable. The N/A figures for days on market (DOM) and the percentage of price cuts indicate that there isn't recent data available to assess how quickly properties are being rented out or if there's a trend of landlords lowering their asking prices due to slow sales. However, given the difference between the FMR and the market rent, it's likely that landlords can expect steady occupancy rates without needing to adjust their prices significantly.
For landlords and small-portfolio investors looking at ZIP 35593, the numbers suggest a favorable environment for Section 8 properties. With the FMR exceeding the market rent, there's a clear incentive for tenants to secure subsidized housing, ensuring a stable tenant pool. Moreover, the moderate median home value and median income levels imply that the local economy supports both ownership and rental markets, reducing risks associated with high vacancy rates. In conclusion, the data points to a positive outlook for Section 8 investments in this ZIP code.
Verdict: ZIP 35593 is a good fit for Section 8 investments, supported by favorable rent subsidies and a balanced local economy.
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.