Location: Huntsville, AL | Metro: Huntsville, AL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
The Fair Market Rent (FMR) for ZIP code 35804 in fiscal year 2024 is set at $1280. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, not the actual rent paid by the tenant. It's important to understand that this is a payment standard established by HUD (Housing and Urban Development) to ensure that rents are fair and reasonable compared to market rates.
In ZIP 35804, the local median rent is currently listed as N/A. While this data point is missing, it's crucial to compare your property's rent to the FMR of $1280 to determine if it's competitive and likely to attract tenants. If your rent is significantly higher than the FMR, you might struggle to find tenants willing to pay the difference between the subsidy and the total rent.
The percentage of renters in ZIP 35804 is N/A%. This indicates the proportion of residents who are likely to be interested in Section 8 housing. A higher percentage suggests greater demand for affordable rentals, which could mean more potential tenants for your property.
When acquiring a new property for Section 8 in ZIP 35804, the typical cost is N/A. This figure includes the purchase price of the property plus any necessary renovations to meet the housing quality standards required by the Section 8 program. It's essential to factor in these costs when evaluating whether a property will be profitable under Section 8.
Before finalizing your decision to participate in the Section 8 program with a property in ZIP 35804, verify that your proposed rent does not exceed the FMR of $1280. This ensures compliance with HUD regulations and increases the likelihood of attracting eligible tenants.
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.