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Jefferson County/Calera/35040

35040

ZIPSAFMR
Jefferson County, AL
Zillow

ZIP Investment Score

102Above average

095130300
BRFMR
Eff. Rent
0 BR$1,500$1,500
1 BR$1,600$1,400
2 BR$1,750$1,430
3 BR$2,200$1,590
4 BR$2,480$1,800
5 BR$2,852Not available
6 BR$3,280Not available
7 BR$3,772Not available
8 BR$4,338Not available

Purchase Price Calculator

Maximum purchase price
$150,581

Cost breakdown

+Likely effective rent$1,430
HUD FMR$1,750
Market rentUsed$1,430
Est. payment standard (90%)$1,580
-Principal and interest-$761
Loan amount$120,465
Down payment$30,116
Rate6.50%
Term30 years
-Operating costs-$469
Property taxes-$151
Insurance-$175
Utilities$0
HOA$0
Management-$143
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,094(76.7% ROI)
Projected value
$162,159
Return breakdown
Property appreciation+$11,578
Loan principal paid down+$4,316
Rental cash flow+$7,200
5-year hold
+$39,484(131.1% ROI)
Projected value
$170,368
Return breakdown
Property appreciation+$19,788
Loan principal paid down+$7,697
Rental cash flow+$12,000
10-year hold
+$84,515(280.6% ROI)
Projected value
$192,756
Return breakdown
Property appreciation+$42,175
Loan principal paid down+$18,339
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.00
1 BR
1.14
2 BR
1.22
3 BR
1.38
4 BR
1.38
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35040 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35040 (Calera, AL) is $1,750 a month. That is up 6.7% from $1,640 in FY 2026. Calera is in the Birmingham-Hoover, AL HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 108 ZIP codes in Jefferson County, 35040 has the 6th-highest two-bedroom rent (county range $920–$2,060). The median county two-bedroom FMR in Alabama is $975, so ZIP 35040 is 79% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35040
BedroomsFY 2027Change90–110% range
Studio$1,500+13.6%$1,350–$1,650
1BR$1,600+7.4%$1,440–$1,760
2BR$1,750+6.7%$1,575–$1,925
3BR$2,200+7.3%$1,980–$2,420
4BR$2,480+6.4%$2,232–$2,728

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35040
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,500$1,600$1,750$2,200$2,480
FY 2026$1,320$1,490$1,640$2,050$2,330
FY 2025$1,290$1,470$1,640$2,050$2,310
FY 2024$1,220$1,370$1,540$1,950$2,160
FY 2023$1,030$1,120$1,280$1,650$1,780

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35040
35020$1,120−36.0%
35021$1,370−21.7%
35022$1,210−30.9%
35023$1,420−18.9%
35033$1,230−29.7%
35034$980−44.0%
35036$1,250−28.6%
35040Current$1,750—
35042$920−47.4%
35046$920−47.4%
35048$1,370−21.7%
35053$1,030−41.1%

Questions about ZIP 35040 rents

How much will Section 8 pay for a two-bedroom in ZIP 35040?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,750, that basic range is $1,575 to $1,925 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 ZIP 35040 in?

ZIP 35040 is in the Birmingham-Hoover, AL HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 35040 for FY 2027?

The two-bedroom FMR rose 6.7%, from $1,640 in FY 2026 to $1,750 in FY 2027. Since FY 2023 it has risen 36.7%.

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

County fair market rentCalera, AL fair market rentAL statewide rentsWhat is SAFMR?Data sources