Location: Huntsville, AL | Metro: Huntsville, AL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
The ZIP code 35742 in Unknown, AL presents a market characterized by the Federal Market Rent (FMR) set at $1040 for the fiscal year 2024. This figure serves as a benchmark for rental properties within the area, particularly those participating in the Section 8 Housing Choice Voucher program. However, the absence of specific market rent data, along with other critical metrics such as the percentage of price-cut share, days on market (DOM), and median home value, limits our ability to definitively assess whether supply outpaces demand or vice versa.
The lack of market rent data suggests that there might be limited participation in the private rental sector, which could indicate a preference for homeownership over renting. Alternatively, it may point to a less active rental market, possibly due to the local economy or job market conditions. The absence of these figures also means we cannot determine the exact balance between supply and demand, but the reliance on FMR without significant deviations hints at a stable market.
The N/A% renter share statistic is particularly noteworthy. While it doesn't provide a precise percentage, it implies that the proportion of renters in the area is either not well-documented or fluctuates significantly. In markets with a higher renter share, long-term housing pressures can be more pronounced, especially if there's a growing population or limited affordable housing options. Conversely, a lower renter share might suggest that homeownership is more prevalent, potentially reducing immediate housing pressures but increasing the need for affordable homeownership solutions.
In summary, ZIP 35742 appears to be a market with defined federal guidelines but lacking in comprehensive local rental data. This suggests a stable yet opaque rental environment, with dynamics that are heavily influenced by broader economic factors and the relative attractiveness of homeownership over renting. Landlords and small-portfolio investors should consider the FMR as a key reference point while being aware of the limitations posed by the lack of detailed market data.
Data Sources: FMR data from HUD (2027).
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.