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Madison County/Huntsville/35824

35824

ZIPSAFMR
Madison County, AL
Zillow

ZIP Investment Score

76Below average

095130300
BRFMR
Eff. Rent
0 BR$1,280$1,310
1 BR$1,340$1,310
2 BR$1,530$1,660
3 BR$1,980$1,690
4 BR$2,560$2,060
5 BR$2,944Not available
6 BR$3,386Not available
7 BR$3,893Not available
8 BR$4,477Not available

Purchase Price Calculator

Maximum purchase price
$184,759

Cost breakdown

+Likely effective rent$1,660
HUD FMR$1,530
Market rent$1,730
Est. payment standard (108%)Used$1,660
-Principal and interest-$934
Loan amount$147,807
Down payment$36,952
Rate6.50%
Term30 years
-Operating costs-$526
Property taxes-$185
Insurance-$175
Utilities$0
HOA$0
Management-$166
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,702(72.3% ROI)
Projected value
$198,965
Return breakdown
Property appreciation+$14,206
Loan principal paid down+$5,296
Rental cash flow+$7,200
5-year hold
+$45,722(123.7% ROI)
Projected value
$209,038
Return breakdown
Property appreciation+$24,279
Loan principal paid down+$9,443
Rental cash flow+$12,000
10-year hold
+$98,250(265.9% ROI)
Projected value
$236,507
Return breakdown
Property appreciation+$51,748
Loan principal paid down+$22,502
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.96
1 BR
1.02
2 BR
0.88
3 BR
1.17
4 BR
1.24
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35824 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35824 (Huntsville, AL) is $1,530 a month. That is up 2.7% from $1,490 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, 35824 has the 8th-highest two-bedroom rent (county range $1,180–$2,010). The median county two-bedroom FMR in Alabama is $975, so ZIP 35824 is 57% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35824
BedroomsFY 2027Change90–110% range
Studio$1,280+9.4%$1,152–$1,408
1BR$1,340+3.9%$1,206–$1,474
2BR$1,530+2.7%$1,377–$1,683
3BR$1,980+3.1%$1,782–$2,178
4BR$2,560+6.7%$2,304–$2,816

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35824
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,280$1,340$1,530$1,980$2,560
FY 2026$1,170$1,290$1,490$1,920$2,400
FY 2025$1,020$1,180$1,370$1,770$2,160
FY 2024$970$1,150$1,340$1,740$2,080
FY 2023$810$960$1,130$1,490$1,770

Two-bedroom rent in nearby Madison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35824
35806$1,560+2.0%
35807$1,370−10.5%
35808$2,010+31.4%
35809$1,370−10.5%
35810$1,250−18.3%
35811$1,280−16.3%
35812$1,370−10.5%
35813$1,370−10.5%
35814$1,370−10.5%
35815$1,370−10.5%
35816$1,180−22.9%
35824Current$1,530—

Questions about ZIP 35824 rents

How much will Section 8 pay for a two-bedroom in ZIP 35824?

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 $1,530 it would be $1,377 to $1,683. 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 35824 in?

ZIP 35824 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 35824 for FY 2027?

The two-bedroom FMR rose 2.7%, from $1,490 in FY 2026 to $1,530 in FY 2027. Since FY 2023 it has risen 35.4%.

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