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Jefferson County/Birmingham/35243

35243

ZIPSAFMR
Jefferson County, AL
Zillow

ZIP Investment Score

82Below average

095130300
BRFMR
Eff. Rent
0 BR$1,570$1,690
1 BR$1,680$1,470
2 BR$1,830$2,010
3 BR$2,300$2,530
4 BR$2,580$2,840
5 BR$2,967Not available
6 BR$3,412Not available
7 BR$3,924Not available
8 BR$4,512Not available

Purchase Price Calculator

Maximum purchase price
$236,769

Cost breakdown

+Likely effective rent$2,010
HUD FMR$1,830
Market rent$2,500
Est. payment standard (110%)Used$2,010
-Principal and interest-$1,197
Loan amount$189,415
Down payment$47,354
Rate6.50%
Term30 years
-Operating costs-$613
Property taxes-$237
Insurance-$175
Utilities$0
HOA$0
Management-$201
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,192(68.0% ROI)
Projected value
$254,974
Return breakdown
Property appreciation+$18,205
Loan principal paid down+$6,786
Rental cash flow+$7,200
5-year hold
+$55,215(116.6% ROI)
Projected value
$267,882
Return breakdown
Property appreciation+$31,113
Loan principal paid down+$12,102
Rental cash flow+$12,000
10-year hold
+$119,152(251.6% ROI)
Projected value
$303,084
Return breakdown
Property appreciation+$66,315
Loan principal paid down+$28,836
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.90
1 BR
1.14
2 BR
0.73
3 BR
0.86
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35243 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35243 (Birmingham, AL) is $1,830 a month. That is up 8.3% from $1,690 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, 35243 has the 4th-highest two-bedroom rent (county range $920–$2,060). The median county two-bedroom FMR in Alabama is $975, so ZIP 35243 is 88% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35243
BedroomsFY 2027Change90–110% range
Studio$1,570+14.6%$1,413–$1,727
1BR$1,680+9.1%$1,512–$1,848
2BR$1,830+8.3%$1,647–$2,013
3BR$2,300+9.0%$2,070–$2,530
4BR$2,580+7.5%$2,322–$2,838

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35243
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,570$1,680$1,830$2,300$2,580
FY 2026$1,370$1,540$1,690$2,110$2,400
FY 2025$1,330$1,530$1,690$2,110$2,390
FY 2024$1,330$1,510$1,690$2,130$2,380
FY 2023$1,290$1,400$1,600$2,050$2,220

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35243
35231$1,370−25.1%
35232$1,370−25.1%
35233$1,870+2.2%
35234$940−48.6%
35235$1,490−18.6%
35236$1,370−25.1%
35242$1,680−8.2%
35243Current$1,830—
35244$1,670−8.7%
35249$1,870+2.2%
35253$1,370−25.1%
35254$970−47.0%

Questions about ZIP 35243 rents

How much will Section 8 pay for a two-bedroom in ZIP 35243?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,830, that basic range is $1,647 to $2,013 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 35243 in?

ZIP 35243 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 35243 for FY 2027?

The two-bedroom FMR rose 8.3%, from $1,690 in FY 2026 to $1,830 in FY 2027. Since FY 2023 it has risen 14.4%.

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