Skip to main content
Loading page
AL/Morgan County/Somerville

Somerville, AL

CitySAFMR
Morgan County
Found 1 ZIP

City Median Investment Score

59Below average

095130300
BRFMR
Eff. Rent
0 BR$770$770
1 BR$780$780
2 BR$950$950
3 BR$1,220$1,220
4 BR$1,570$1,570
5 BR$1,805Not available
6 BR$2,076Not available
7 BR$2,388Not available
8 BR$2,746Not available

Purchase Price Calculator

Maximum purchase price
$79,253

Cost breakdown

+Likely effective rent$950
HUD FMRUsed$950
Market rentN/A
Est. payment standardN/A
-Principal and interest-$401
Loan amount$63,402
Down payment$15,851
Rate6.50%
Term30 years
-Operating costs-$349
Property taxes-$79
Insurance-$175
Utilities$0
HOA$0
Management-$95
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,565(98.2% ROI)
Projected value
$85,347
Return breakdown
Property appreciation+$6,094
Loan principal paid down+$2,272
Rental cash flow+$7,200
5-year hold
+$26,465(167.0% ROI)
Projected value
$89,668
Return breakdown
Property appreciation+$10,415
Loan principal paid down+$4,051
Rental cash flow+$12,000
10-year hold
+$55,850(352.4% ROI)
Projected value
$101,451
Return breakdown
Property appreciation+$22,198
Loan principal paid down+$9,652
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
--

Somerville, AL fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Somerville, AL is $950 a month. That is up 5.6% from $900 in FY 2026. Somerville is in the Decatur, 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 $1,023. The median county two-bedroom FMR in Alabama is $975, so Somerville is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Somerville, AL
BedroomsFY 2027Change90–110% range
Studio$770+8.5%$693–$847
1BR$780+6.8%$702–$858
2BR$950+5.6%$855–$1,045
3BR$1,220+3.4%$1,098–$1,342
4BR$1,570+8.3%$1,413–$1,727

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Somerville, AL
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$770$780$950$1,220$1,570
FY 2026$710$730$900$1,180$1,450
FY 2025$700$710$910$1,180$1,370
FY 2024$710$740$890$1,160$1,300
FY 2023$630$660$800$1,040$1,160

Questions about Somerville, AL rents

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

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,023, which applies unless the housing authority uses Small Area FMRs, that basic range is $921 to $1,125 a month; under the ZIP-level Small Area FMR of $950 it would be $855 to $1,045. 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 Somerville, AL in?

Somerville, AL is in the Decatur, AL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,023.

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

The two-bedroom FMR rose 5.6%, from $900 in FY 2026 to $950 in FY 2027. Since FY 2023 it has risen 18.8%.

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