FMR is below market; voucher rent may lag private rents.
0.66
1 BR
1 BR
0.92ratio
FMR$870
Market$950
vs market-$80
FMR is near market; voucher and private rents are aligned.
0.92
2 BR
2 BR
0.93ratio
FMR$1,130
Market$1,220
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.93
3 BR
3 BR
0.93ratio
FMR$1,400
Market$1,510
vs market-$110
FMR is near market; voucher and private rents are aligned.
0.93
4 BR
4 BR
0.86ratio
FMR$1,490
Market$1,740
vs market-$250
FMR is below market; voucher rent may lag private rents.
0.86
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 35632 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35632 (Florence, AL) is $1,130 a month. That is up 7.6% from $1,050 in FY 2026. Florence is in the Florence-Muscle Shoals, AL MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,085. Among 21 ZIP codes in Lauderdale County, 35632 is tied for the 7th-highest two-bedroom rent (county range $920–$1,260). The median county two-bedroom FMR in Alabama is $975, so ZIP 35632 is 16% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 35632
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$730
$790
+8.2%
$711–$869
1BR
$810
$870
+7.4%
$783–$957
2BR
$1,050
$1,130
+7.6%
$1,017–$1,243
3BR
$1,300
$1,400
+7.7%
$1,260–$1,540
4BR
$1,480
$1,490
+0.7%
$1,341–$1,639
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 35632
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$790
$870
$1,130
$1,400
$1,490
FY 2026
$730
$810
$1,050
$1,300
$1,480
FY 2025
$670
$740
$970
$1,190
$1,420
FY 2024
$650
$700
$920
$1,130
$1,390
FY 2023area FMR
$574
$617
$811
$1,000
$1,249
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Lauderdale County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 35632?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,085, which applies unless the housing authority uses Small Area FMRs, that basic range is $977 to $1,194 a month; under the ZIP-level Small Area FMR of $1,130 it would be $1,017 to $1,243. 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 35632 in?
ZIP 35632 is in the Florence-Muscle Shoals, AL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,085.
How much did fair market rent change in ZIP 35632 for FY 2027?
The two-bedroom FMR rose 7.6%, from $1,050 in FY 2026 to $1,130 in FY 2027. Since FY 2024 it has risen 22.8%.
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