Section 8 Fair Market Rent (FMR) for ZIP 35990 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 35990, located in Alabama, presents a unique market scenario for real estate investors interested in Section 8 housing. This area is characterized by a predominantly owner-occupied housing stock, with minimal rental presence, making it an interesting case study for potential investments.

• The Fair Market Rent (FMR) for ZIP 35990 for fiscal year 2024 is set at $870. This figure represents the maximum amount that a Section 8 tenant can pay towards their rent under the program.
• The market rent for the area is currently N/A, indicating a lack of recent data on average rental prices. This absence of information could suggest a limited rental market or insufficient data points to establish a reliable average.
• The median home value in ZIP 35990 is also listed as N/A, which might imply that there is not enough data available to calculate this metric accurately. This could be due to a low number of sales transactions in the area.
• The renter share in the area is 0.0%, meaning that all residents own their homes. This statistic highlights the community's preference for homeownership over renting, which could impact the demand for rental properties.
• The Days on Market (DOM) for the area is N/A, suggesting that there are no recent listings or sales data to determine how long properties typically remain on the market before selling.
• The median household income for ZIP 35990 is N/A, indicating a lack of current demographic data. This missing information makes it challenging to assess the economic health and potential for Section 8 eligibility among residents.

Investors considering Section 8 properties in ZIP 35990 should focus on the established fair market rent of $870 as a benchmark for pricing their units. The complete absence of rental presence suggests that there may be little competition, but also potentially low demand. The lack of data on median home values and days on market indicates a slow-moving market with fewer transactions, which could mean that property values are stable but not rapidly appreciating. The unknown median income level adds uncertainty regarding the number of eligible tenants for Section 8 housing. Overall, while the area offers a niche opportunity for those who can secure Section 8 tenants, the limited availability of key market indicators poses challenges in fully understanding the investment potential.

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.