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Jefferson County/Mulga/35118

35118

ZIPSAFMR
Jefferson County, AL
Zillow

ZIP Investment Score

113Above average

095130300
BRFMR
Eff. Rent
0 BR$1,040$980
1 BR$1,110$1,000
2 BR$1,210$1,030
3 BR$1,520$1,290
4 BR$1,710$1,490
5 BR$1,966Not available
6 BR$2,261Not available
7 BR$2,601Not available
8 BR$2,991Not available

Purchase Price Calculator

Maximum purchase price
$91,141

Cost breakdown

+Likely effective rent$1,030
HUD FMR$1,210
Market rentUsed$1,030
Est. payment standard (90%)$1,090
-Principal and interest-$461
Loan amount$72,913
Down payment$18,228
Rate6.50%
Term30 years
-Operating costs-$369
Property taxes-$91
Insurance-$175
Utilities$0
HOA$0
Management-$103
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,820(92.3% ROI)
Projected value
$98,149
Return breakdown
Property appreciation+$7,008
Loan principal paid down+$2,612
Rental cash flow+$7,200
5-year hold
+$28,635(157.1% ROI)
Projected value
$103,118
Return breakdown
Property appreciation+$11,977
Loan principal paid down+$4,658
Rental cash flow+$12,000
10-year hold
+$60,627(332.6% ROI)
Projected value
$116,668
Return breakdown
Property appreciation+$25,527
Loan principal paid down+$11,100
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.06
1 BR
1.11
2 BR
1.17
3 BR
1.18
4 BR
1.15
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35118 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35118 (Mulga, AL) is $1,210 a month. That is up 13.1% from $1,070 in FY 2026. Mulga 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, 35118 is tied for the 60th-highest two-bedroom rent (county range $920–$2,060). The median county two-bedroom FMR in Alabama is $975, so ZIP 35118 is 24% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35118
BedroomsFY 2027Change90–110% range
Studio$1,040+19.5%$936–$1,144
1BR$1,110+13.3%$999–$1,221
2BR$1,210+13.1%$1,089–$1,331
3BR$1,520+13.4%$1,368–$1,672
4BR$1,710+12.5%$1,539–$1,881

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35118
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,110$1,210$1,520$1,710
FY 2026$870$980$1,070$1,340$1,520
FY 2025$890$1,000$1,130$1,420$1,580
FY 2024$830$940$1,050$1,320$1,480
FY 2023$720$780$890$1,140$1,240

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35118
35111$1,300+7.4%
35115$1,020−15.7%
35116$1,090−9.9%
35117$1,350+11.6%
35118Current$1,210—
35119$1,370+13.2%
35121$920−24.0%
35126$1,550+28.1%
35127$1,600+32.2%
35128$1,480+22.3%
35130$920−24.0%
35131$920−24.0%

Questions about ZIP 35118 rents

How much will Section 8 pay for a two-bedroom in ZIP 35118?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,210, that basic range is $1,089 to $1,331 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 35118 in?

ZIP 35118 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 35118 for FY 2027?

The two-bedroom FMR rose 13.1%, from $1,070 in FY 2026 to $1,210 in FY 2027. Since FY 2023 it has risen 36.0%.

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