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Cullman County/Garden City/35070

35070

ZIPSAFMR
Cullman County, AL
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$730$730
1 BR$730$730
2 BR$960$960
3 BR$1,260$1,260
4 BR$1,470$1,470
5 BR$1,690Not available
6 BR$1,944Not available
7 BR$2,236Not available
8 BR$2,571Not available

Purchase Price Calculator

Maximum purchase price
$80,739

Cost breakdown

+Likely effective rent$960
HUD FMRUsed$960
Market rentN/A
Est. payment standardN/A
-Principal and interest-$408
Loan amount$64,591
Down payment$16,148
Rate6.50%
Term30 years
-Operating costs-$352
Property taxes-$81
Insurance-$175
Utilities$0
HOA$0
Management-$96
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,722(97.4% ROI)
Projected value
$86,947
Return breakdown
Property appreciation+$6,208
Loan principal paid down+$2,314
Rental cash flow+$7,200
5-year hold
+$26,737(165.6% ROI)
Projected value
$91,349
Return breakdown
Property appreciation+$10,610
Loan principal paid down+$4,127
Rental cash flow+$12,000
10-year hold
+$56,447(349.6% ROI)
Projected value
$103,353
Return breakdown
Property appreciation+$22,614
Loan principal paid down+$9,833
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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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
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Tax rate
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Mortgage rate
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ZIP 35070 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35070 (Garden City, AL) is $960 a month. That is up 15.7% from $830 in FY 2026. Garden City is in the Cullman County, AL non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $1,034. Among 8 ZIP codes in Cullman County, 35070 is tied for the 6th-highest two-bedroom rent (county range $960–$1,070). The median county two-bedroom FMR in Alabama is $975, so ZIP 35070 is 2% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35070
BedroomsFY 2027Change90–110% range
Studio$730+15.9%$657–$803
1BR$730+15.9%$657–$803
2BR$960+15.7%$864–$1,056
3BR$1,260+17.8%$1,134–$1,386
4BR$1,470+13.1%$1,323–$1,617

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35070
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$730$730$960$1,260$1,470
FY 2026$630$630$830$1,070$1,300
FY 2025$700$700$910$1,180$1,320
FY 2024area FMR$767$772$1,002$1,306$1,462
FY 2023area FMR$627$655$815$1,097$1,125

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Cullman County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35070
35019$9600.0%
35055$1,070+11.5%
35056$1,030+7.3%
35057$1,010+5.2%
35058$1,030+7.3%
35070Current$960—
35077$9600.0%
35083$1,070+11.5%

Questions about ZIP 35070 rents

How much will Section 8 pay for a two-bedroom in ZIP 35070?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,034, which applies unless the housing authority uses Small Area FMRs, that basic range is $931 to $1,137 a month; under the ZIP-level Small Area FMR of $960 it would be $864 to $1,056. 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 35070 in?

ZIP 35070 is in the Cullman County, AL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,034.

How much did fair market rent change in ZIP 35070 for FY 2027?

The two-bedroom FMR rose 15.7%, from $830 in FY 2026 to $960 in FY 2027. Since FY 2025 it has risen 5.5%.

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

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