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Shelby County/Sterrett/35147

35147

ZIPSAFMR
Shelby County, AL
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$1,630$1,630
1 BR$1,750$1,750
2 BR$1,910$1,910
3 BR$2,400$2,400
4 BR$2,700$2,700
5 BR$3,105Not available
6 BR$3,571Not available
7 BR$4,106Not available
8 BR$4,722Not available

Purchase Price Calculator

Maximum purchase price
$221,909

Cost breakdown

+Likely effective rent$1,910
HUD FMRUsed$1,910
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,122
Loan amount$177,527
Down payment$44,382
Rate6.50%
Term30 years
-Operating costs-$588
Property taxes-$222
Insurance-$175
Utilities$0
HOA$0
Management-$191
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,623(69.0% ROI)
Projected value
$238,971
Return breakdown
Property appreciation+$17,063
Loan principal paid down+$6,360
Rental cash flow+$7,200
5-year hold
+$52,503(118.3% ROI)
Projected value
$251,069
Return breakdown
Property appreciation+$29,161
Loan principal paid down+$11,342
Rental cash flow+$12,000
10-year hold
+$113,180(255.0% ROI)
Projected value
$284,062
Return breakdown
Property appreciation+$62,153
Loan principal paid down+$27,026
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
--
Mortgage rate
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ZIP 35147 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35147 (Sterrett, AL) is $1,910 a month. That is up 4.9% from $1,820 in FY 2026. Sterrett 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 10 ZIP codes in Shelby County, 35147 has the 2nd-highest two-bedroom rent (county range $1,060–$1,930). The median county two-bedroom FMR in Alabama is $975, so ZIP 35147 is 96% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35147
BedroomsFY 2027Change90–110% range
Studio$1,630+10.9%$1,467–$1,793
1BR$1,750+5.4%$1,575–$1,925
2BR$1,910+4.9%$1,719–$2,101
3BR$2,400+5.3%$2,160–$2,640
4BR$2,700+4.2%$2,430–$2,970

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35147
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,630$1,750$1,910$2,400$2,700
FY 2026$1,470$1,660$1,820$2,280$2,590
FY 2025$1,480$1,700$1,880$2,350$2,660
FY 2024$1,480$1,670$1,870$2,360$2,630
FY 2023$1,290$1,400$1,600$2,050$2,220

Two-bedroom rent in nearby Shelby County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35147
35007$1,540−19.4%
35043$1,580−17.3%
35051$1,060−44.5%
35080$1,930+1.0%
35114$1,330−30.4%
35124$1,800−5.8%
35147Current$1,910—
35176$1,060−44.5%
35185$1,590−16.8%
35238$1,590−16.8%

Questions about ZIP 35147 rents

How much will Section 8 pay for a two-bedroom in ZIP 35147?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,910, that basic range is $1,719 to $2,101 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 35147 in?

ZIP 35147 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 35147 for FY 2027?

The two-bedroom FMR rose 4.9%, from $1,820 in FY 2026 to $1,910 in FY 2027. Since FY 2023 it has risen 19.4%.

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