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Madison County/Huntsville/35802

35802

ZIPSAFMR
Madison County, AL
Zillow

ZIP Investment Score

73Below average

095130300
BRFMR
Eff. Rent
0 BR$1,080$880
1 BR$1,130$1,060
2 BR$1,290$1,390
3 BR$1,670$1,690
4 BR$2,160$2,050
5 BR$2,484Not available
6 BR$2,857Not available
7 BR$3,285Not available
8 BR$3,778Not available

Purchase Price Calculator

Maximum purchase price
$144,637

Cost breakdown

+Likely effective rent$1,390
HUD FMR$1,290
Market rent$1,440
Est. payment standard (108%)Used$1,390
-Principal and interest-$731
Loan amount$115,710
Down payment$28,927
Rate6.50%
Term30 years
-Operating costs-$459
Property taxes-$145
Insurance-$175
Utilities$0
HOA$0
Management-$139
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,467(77.7% ROI)
Projected value
$155,758
Return breakdown
Property appreciation+$11,121
Loan principal paid down+$4,146
Rental cash flow+$7,200
5-year hold
+$38,399(132.7% ROI)
Projected value
$163,643
Return breakdown
Property appreciation+$19,006
Loan principal paid down+$7,393
Rental cash flow+$12,000
10-year hold
+$82,126(283.9% ROI)
Projected value
$185,148
Return breakdown
Property appreciation+$40,511
Loan principal paid down+$17,615
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.23
1 BR
1.07
2 BR
0.90
3 BR
0.98
4 BR
1.05
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35802 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35802 (Huntsville, AL) is $1,290 a month. That is up 0.8% from $1,280 in FY 2026. Huntsville is in the Huntsville, 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 $1,341. Among 29 ZIP codes in Madison County, 35802 has the 22nd-highest two-bedroom rent (county range $1,180–$2,010). The median county two-bedroom FMR in Alabama is $975, so ZIP 35802 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35802
BedroomsFY 2027Change90–110% range
Studio$1,080+6.9%$972–$1,188
1BR$1,130+1.8%$1,017–$1,243
2BR$1,290+0.8%$1,161–$1,419
3BR$1,670+1.2%$1,503–$1,837
4BR$2,160+4.9%$1,944–$2,376

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35802
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,080$1,130$1,290$1,670$2,160
FY 2026$1,010$1,110$1,280$1,650$2,060
FY 2025$930$1,070$1,250$1,610$1,970
FY 2024$970$1,150$1,340$1,740$2,080
FY 2023$800$950$1,120$1,470$1,750

Two-bedroom rent in nearby Madison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35802
35801$1,450+12.4%
35802Current$1,290—
35803$1,430+10.9%
35804$1,370+6.2%
35805$1,180−8.5%
35806$1,560+20.9%
35807$1,370+6.2%
35808$2,010+55.8%
35809$1,370+6.2%
35810$1,250−3.1%
35811$1,280−0.8%
35812$1,370+6.2%

Questions about ZIP 35802 rents

How much will Section 8 pay for a two-bedroom in ZIP 35802?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,341, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,207 to $1,475 a month; under the ZIP-level Small Area FMR of $1,290 it would be $1,161 to $1,419. 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 35802 in?

ZIP 35802 is in the Huntsville, AL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,341.

How much did fair market rent change in ZIP 35802 for FY 2027?

The two-bedroom FMR rose 0.8%, from $1,280 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 15.2%.

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