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Jefferson County/Morris/35116

35116

ZIPSAFMR
Jefferson County, AL
Zillow

ZIP Investment Score

87Below average

095130300
BRFMR
Eff. Rent
0 BR$930$1,020
1 BR$1,000$1,100
2 BR$1,090$1,200
3 BR$1,370$1,500
4 BR$1,540$1,690
5 BR$1,771Not available
6 BR$2,037Not available
7 BR$2,342Not available
8 BR$2,693Not available

Purchase Price Calculator

Maximum purchase price
$116,403

Cost breakdown

+Likely effective rent$1,200
HUD FMR$1,090
Market rent$1,470
Est. payment standard (110%)Used$1,200
-Principal and interest-$589
Loan amount$93,122
Down payment$23,281
Rate6.50%
Term30 years
-Operating costs-$411
Property taxes-$116
Insurance-$175
Utilities$0
HOA$0
Management-$120
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,487(83.7% ROI)
Projected value
$125,353
Return breakdown
Property appreciation+$8,950
Loan principal paid down+$3,336
Rental cash flow+$7,200
5-year hold
+$33,246(142.8% ROI)
Projected value
$131,699
Return breakdown
Property appreciation+$15,296
Loan principal paid down+$5,950
Rental cash flow+$12,000
10-year hold
+$70,780(304.0% ROI)
Projected value
$149,006
Return breakdown
Property appreciation+$32,603
Loan principal paid down+$14,177
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.65
1 BR
0.67
2 BR
0.74
3 BR
0.87
4 BR
0.82
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35116 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35116 (Morris, AL) is $1,090 a month. That is down 0.9% from $1,100 in FY 2026. Morris 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, 35116 has the 77th-highest two-bedroom rent (county range $920–$2,060). The median county two-bedroom FMR in Alabama is $975, so ZIP 35116 is 12% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35116
BedroomsFY 2027Change90–110% range
Studio$930+4.5%$837–$1,023
1BR$1,0000.0%$900–$1,100
2BR$1,090−0.9%$981–$1,199
3BR$1,370−0.7%$1,233–$1,507
4BR$1,540−1.9%$1,386–$1,694

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35116
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$930$1,000$1,090$1,370$1,540
FY 2026$890$1,000$1,100$1,380$1,570
FY 2025$950$1,090$1,210$1,510$1,710
FY 2024$940$1,060$1,190$1,500$1,670
FY 2023$830$900$1,030$1,320$1,430

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35116
35111$1,300+19.3%
35115$1,020−6.4%
35116Current$1,090—
35117$1,350+23.9%
35118$1,210+11.0%
35119$1,370+25.7%
35121$920−15.6%
35126$1,550+42.2%
35127$1,600+46.8%
35128$1,480+35.8%
35130$920−15.6%
35131$920−15.6%

Questions about ZIP 35116 rents

How much will Section 8 pay for a two-bedroom in ZIP 35116?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,090, that basic range is $981 to $1,199 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 35116 in?

ZIP 35116 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 35116 for FY 2027?

The two-bedroom FMR fell 0.9%, from $1,100 in FY 2026 to $1,090 in FY 2027. Since FY 2023 it has risen 5.8%.

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

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