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AL/Mobile County/Eight Mile

Eight Mile, AL

CitySAFMR
Mobile County
Found 1 ZIP
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City Median Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,090$990
1 BR$1,140$960
2 BR$1,320$1,140
3 BR$1,710$1,550
4 BR$1,810$1,820
5 BR$2,082Not available
6 BR$2,394Not available
7 BR$2,753Not available
8 BR$3,166Not available

Purchase Price Calculator

Maximum purchase price
$107,487

Cost breakdown

+Likely effective rent$1,140
HUD FMR$1,320
Market rentUsed$1,140
Est. payment standard (91%)$1,200
-Principal and interest-$544
Loan amount$85,990
Down payment$21,497
Rate6.50%
Term30 years
-Operating costs-$396
Property taxes-$107
Insurance-$175
Utilities$0
HOA$0
Management-$114
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,546(86.3% ROI)
Projected value
$115,752
Return breakdown
Property appreciation+$8,265
Loan principal paid down+$3,081
Rental cash flow+$7,200
5-year hold
+$31,619(147.1% ROI)
Projected value
$121,612
Return breakdown
Property appreciation+$14,125
Loan principal paid down+$5,494
Rental cash flow+$12,000
10-year hold
+$67,196(312.6% ROI)
Projected value
$137,592
Return breakdown
Property appreciation+$30,105
Loan principal paid down+$13,091
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.10
1 BR
1.19
2 BR
1.16
3 BR
1.10
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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Eight Mile, AL fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Eight Mile, AL is $1,320 a month. That is up 7.3% from $1,230 in FY 2026. Eight Mile is in the Mobile, AL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Alabama is $975, so Eight Mile is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Eight Mile, AL
BedroomsFY 2027Change90–110% range
Studio$1,090+12.4%$981–$1,199
1BR$1,140+9.6%$1,026–$1,254
2BR$1,320+7.3%$1,188–$1,452
3BR$1,710+6.2%$1,539–$1,881
4BR$1,810+10.4%$1,629–$1,991

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Eight Mile, AL
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,090$1,140$1,320$1,710$1,810
FY 2026$970$1,040$1,230$1,610$1,640
FY 2025$920$1,030$1,240$1,630$1,660
FY 2024$870$960$1,180$1,560$1,600
FY 2023$770$830$1,030$1,380$1,460

Questions about Eight Mile, AL rents

How much will Section 8 pay for a two-bedroom in Eight Mile, AL?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,320, that basic range is $1,188 to $1,452 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is Eight Mile, AL in?

Eight Mile, AL is in the Mobile, AL MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in Eight Mile, AL for FY 2027?

The two-bedroom FMR rose 7.3%, from $1,230 in FY 2026 to $1,320 in FY 2027. Since FY 2023 it has risen 28.2%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set