Location: Chilton County, AL | Metro: Birmingham-Hoover, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 36792 in fiscal year 2024 is set at $970. This figure represents the payment standard, which is the maximum amount that a landlord can receive from the Section 8 program for renting a unit in this area. It's important to note that this is not the actual rent you will charge your tenants; it's the maximum subsidy amount.
In ZIP 36792, there are currently no specific local rent controls or regulations that directly affect the FMR. However, the local housing market is largely driven by the FMR, which sets expectations for both landlords and tenants. With 21.4% of the population being renters, there is a significant demand for affordable housing units, making Section 8 rentals a viable option for many residents.
The average home value in ZIP 36792 is $226,179, which gives you an idea of the acquisition cost if you're looking to purchase property for your first Section 8 rental. This means that the investment required to enter this market is substantial, but the demand for affordable housing ensures that there will be tenants interested in your property.
To make a sound decision, verify that your property meets all the necessary requirements for Section 8 participation. This includes passing a housing quality standards (HQS) inspection, ensuring the rent is reasonable compared to similar units in the area, and confirming that the unit is not overcrowded. These steps are crucial because they determine whether your rental can qualify for the program and attract eligible tenants.
By understanding the FMR and the local demand for affordable housing, you can better position yourself to manage a Section 8 rental successfully. The $970 payment standard provides a clear benchmark for the subsidy you'll receive, while the 21.4% renter share highlights the potential tenant pool. With an acquisition cost of around $226,179, you have a solid basis for calculating your return on investment.
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.