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Morgan County/Hartselle/35640

35640

ZIPSAFMR
Morgan County, AL
Zillow

ZIP Investment Score

77Below average

095130300
BRFMR
Eff. Rent
0 BR$800$880
1 BR$810$890
2 BR$990$1,090
3 BR$1,270$1,400
4 BR$1,630$1,650
5 BR$1,874Not available
6 BR$2,156Not available
7 BR$2,479Not available
8 BR$2,851Not available

Purchase Price Calculator

Maximum purchase price
$100,057

Cost breakdown

+Likely effective rent$1,090
HUD FMR$990
Market rent$1,340
Est. payment standard (110%)Used$1,090
-Principal and interest-$506
Loan amount$80,046
Down payment$20,011
Rate6.50%
Term30 years
-Operating costs-$384
Property taxes-$100
Insurance-$175
Utilities$0
HOA$0
Management-$109
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,761(88.8% ROI)
Projected value
$107,751
Return breakdown
Property appreciation+$7,693
Loan principal paid down+$2,868
Rental cash flow+$7,200
5-year hold
+$30,262(151.2% ROI)
Projected value
$113,205
Return breakdown
Property appreciation+$13,148
Loan principal paid down+$5,114
Rental cash flow+$12,000
10-year hold
+$64,210(320.9% ROI)
Projected value
$128,081
Return breakdown
Property appreciation+$28,024
Loan principal paid down+$12,186
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.80
1 BR
0.84
2 BR
0.74
3 BR
0.83
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35640 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35640 (Hartselle, AL) is $990 a month. That is up 4.2% from $950 in FY 2026. Hartselle is in the Decatur, 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 $1,023. Among 7 ZIP codes in Morgan County, 35640 has the 5th-highest two-bedroom rent (county range $930–$1,240). The median county two-bedroom FMR in Alabama is $975, so ZIP 35640 is 2% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35640
BedroomsFY 2027Change90–110% range
Studio$800+6.7%$720–$880
1BR$810+5.2%$729–$891
2BR$990+4.2%$891–$1,089
3BR$1,270+1.6%$1,143–$1,397
4BR$1,630+6.5%$1,467–$1,793

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35640
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$800$810$990$1,270$1,630
FY 2026$750$770$950$1,250$1,530
FY 2025$740$770$940$1,240$1,480
FY 2024$760$780$950$1,240$1,390
FY 2023$640$670$820$1,070$1,190

Two-bedroom rent in nearby Morgan County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35640
35601$1,060+7.1%
35602$1,040+5.1%
35603$1,110+12.1%
35619$1,240+25.3%
35640Current$990—
35670$950−4.0%
35754$930−6.1%

Questions about ZIP 35640 rents

How much will Section 8 pay for a two-bedroom in ZIP 35640?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,023, which applies unless the housing authority uses Small Area FMRs, that basic range is $921 to $1,125 a month; under the ZIP-level Small Area FMR of $990 it would be $891 to $1,089. 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 35640 in?

ZIP 35640 is in the Decatur, AL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,023.

How much did fair market rent change in ZIP 35640 for FY 2027?

The two-bedroom FMR rose 4.2%, from $950 in FY 2026 to $990 in FY 2027. Since FY 2023 it has risen 20.7%.

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

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