FMR is near market; voucher and private rents are aligned.
1.09
2 BR
2 BR
1.06ratio
FMR$1,870
Market$1,770
vs market+$100
FMR is near market; voucher and private rents are aligned.
1.06
3 BR
3 BR
1.25ratio
FMR$2,350
Market$1,880
vs market+$470
FMR is above market; underwrite to market rent.
1.25
4 BR
4 BR
1.05ratio
FMR$2,640
Market$2,520
vs market+$120
FMR is near market; voucher and private rents are aligned.
1.05
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 35233 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35233 (Birmingham, AL) is $1,870 a month. That is up 8.1% from $1,730 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, 35233 is tied for the 2nd-highest two-bedroom rent (county range $920–$2,060). The median county two-bedroom FMR in Alabama is $975, so ZIP 35233 is 92% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 35233
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,400
$1,600
+14.3%
$1,440–$1,760
1BR
$1,580
$1,720
+8.9%
$1,548–$1,892
2BR
$1,730
$1,870
+8.1%
$1,683–$2,057
3BR
$2,160
$2,350
+8.8%
$2,115–$2,585
4BR
$2,460
$2,640
+7.3%
$2,376–$2,904
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 35233
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,600
$1,720
$1,870
$2,350
$2,640
FY 2026
$1,400
$1,580
$1,730
$2,160
$2,460
FY 2025
$1,390
$1,590
$1,760
$2,200
$2,490
FY 2024
$1,370
$1,550
$1,740
$2,190
$2,450
FY 2023
$1,210
$1,310
$1,500
$1,920
$2,080
Two-bedroom rent in nearby Jefferson County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 35233?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,870, that basic range is $1,683 to $2,057 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 35233 in?
ZIP 35233 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 35233 for FY 2027?
The two-bedroom FMR rose 8.1%, from $1,730 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 24.7%.
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