FMR is below market; voucher rent may lag private rents.
0.74
1 BR
1 BR- 35906
1.18ratio
FMR$1,000
Market$850
vs market+$150
FMR is above market; underwrite to market rent.
1.18
2 BR
2 BR- 35906
1.06ratio
FMR$1,170
Market$1,100
vs market+$70
FMR is near market; voucher and private rents are aligned.
1.06
3 BR
3 BR- 35906
1.01ratio
FMR$1,480
Market$1,470
vs market+$10
FMR is near market; voucher and private rents are aligned.
1.01
4 BR
4 BR- 35906
0.99ratio
FMR$1,680
Market$1,690
vs market-$10
FMR is near market; voucher and private rents are aligned.
0.99
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Rainbow City, AL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Rainbow City, AL is $1,170 a month. That is up 5.4% from $1,110 in FY 2026. Rainbow City is in the Gadsden, AL MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $975. The median county two-bedroom FMR in Alabama is $975, so Rainbow City is 20% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Rainbow City, AL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$810
$810
0.0%
$729–$891
1BR
$950
$1,000
+5.3%
$900–$1,100
2BR
$1,110
$1,170
+5.4%
$1,053–$1,287
3BR
$1,350
$1,480
+9.6%
$1,332–$1,628
4BR
$1,560
$1,680
+7.7%
$1,512–$1,848
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Rainbow City, AL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$810
$1,000
$1,170
$1,480
$1,680
FY 2026
$810
$950
$1,110
$1,350
$1,560
FY 2025
$890
$1,000
$1,140
$1,420
$1,580
FY 2024
$780
$960
$1,110
$1,380
$1,480
FY 2023
$690
$760
$890
$1,130
$1,200
Questions about Rainbow City, AL rents
How much will Section 8 pay for a two-bedroom in Rainbow City, AL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $975, which applies unless the housing authority uses Small Area FMRs, that basic range is $878 to $1,073 a month; under the ZIP-level Small Area FMR of $1,170 it would be $1,053 to $1,287. 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 Rainbow City, AL in?
Rainbow City, AL is in the Gadsden, AL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $975.
How much did fair market rent change in Rainbow City, AL for FY 2027?
The two-bedroom FMR rose 5.4%, from $1,110 in FY 2026 to $1,170 in FY 2027. Since FY 2023 it has risen 31.5%.
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