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Jefferson County/Birmingham/35228

35228

ZIPSAFMR
Jefferson County, AL
Zillow

ZIP Investment Score

117Above average

095130300
BRFMR
Eff. Rent
0 BR$1,100$810
1 BR$1,190$850
2 BR$1,290$970
3 BR$1,620$1,150
4 BR$1,820$1,310
5 BR$2,093Not available
6 BR$2,407Not available
7 BR$2,768Not available
8 BR$3,183Not available

Purchase Price Calculator

Maximum purchase price
$82,225

Cost breakdown

+Likely effective rent$970
HUD FMR$1,290
Market rentUsed$970
Est. payment standard (90%)$1,160
-Principal and interest-$416
Loan amount$65,780
Down payment$16,445
Rate6.50%
Term30 years
-Operating costs-$354
Property taxes-$82
Insurance-$175
Utilities$0
HOA$0
Management-$97
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,879(96.6% ROI)
Projected value
$88,547
Return breakdown
Property appreciation+$6,322
Loan principal paid down+$2,357
Rental cash flow+$7,200
5-year hold
+$27,008(164.2% ROI)
Projected value
$93,030
Return breakdown
Property appreciation+$10,805
Loan principal paid down+$4,203
Rental cash flow+$12,000
10-year hold
+$57,044(346.9% ROI)
Projected value
$105,255
Return breakdown
Property appreciation+$23,030
Loan principal paid down+$10,014
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.36
1 BR
1.40
2 BR
1.33
3 BR
1.41
4 BR
1.39
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35228 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35228 (Birmingham, AL) is $1,290 a month. That is up 12.2% from $1,150 in FY 2026. Birmingham 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, 35228 has the 53rd-highest two-bedroom rent (county range $920–$2,060). The median county two-bedroom FMR in Alabama is $975, so ZIP 35228 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35228
BedroomsFY 2027Change90–110% range
Studio$1,100+18.3%$990–$1,210
1BR$1,190+13.3%$1,071–$1,309
2BR$1,290+12.2%$1,161–$1,419
3BR$1,620+12.5%$1,458–$1,782
4BR$1,820+11.0%$1,638–$2,002

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35228
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,100$1,190$1,290$1,620$1,820
FY 2026$930$1,050$1,150$1,440$1,640
FY 2025$910$1,040$1,150$1,440$1,630
FY 2024$910$1,020$1,150$1,450$1,620
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. 35228
35221$1,200−7.0%
35222$1,300+0.8%
35223$1,780+38.0%
35224$1,210−6.2%
35226$1,740+34.9%
35228Current$1,290—
35229$1,690+31.0%
35231$1,370+6.2%
35232$1,370+6.2%
35233$1,870+45.0%
35234$940−27.1%
35235$1,490+15.5%

Questions about ZIP 35228 rents

How much will Section 8 pay for a two-bedroom in ZIP 35228?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,290, that basic range is $1,161 to $1,419 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 35228 in?

ZIP 35228 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 35228 for FY 2027?

The two-bedroom FMR rose 12.2%, from $1,150 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 25.2%.

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