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Etowah County/Gadsden/35904

35904

ZIPSAFMR
Etowah County, AL
Zillow

ZIP Investment Score

85Below average

095130300
BRFMR
Eff. Rent
0 BR$650$720
1 BR$800$870
2 BR$940$970
3 BR$1,190$1,040
4 BR$1,350$1,130
5 BR$1,552Not available
6 BR$1,785Not available
7 BR$2,053Not available
8 BR$2,361Not available

Purchase Price Calculator

Maximum purchase price
$82,225

Cost breakdown

+Likely effective rent$970
HUD FMR$940
Market rent$980
Est. payment standard (103%)Used$970
-Principal and interest-$416
Loan amount$65,780
Down payment$16,445
Rate6.50%
Term30 years
-Operating costs-$354
Property taxes-$82
Insurance-$175
Utilities$0
HOA$0
Management-$97
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,879(96.6% ROI)
Projected value
$88,547
Return breakdown
Property appreciation+$6,322
Loan principal paid down+$2,357
Rental cash flow+$7,200
5-year hold
+$27,008(164.2% ROI)
Projected value
$93,030
Return breakdown
Property appreciation+$10,805
Loan principal paid down+$4,203
Rental cash flow+$12,000
10-year hold
+$57,044(346.9% ROI)
Projected value
$105,255
Return breakdown
Property appreciation+$23,030
Loan principal paid down+$10,014
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.61
1 BR
0.89
2 BR
0.96
3 BR
1.14
4 BR
1.19
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35904 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35904 (Gadsden, AL) is $940 a month. That is up 4.4% from $900 in FY 2026. Gadsden is in the Gadsden, 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 $975. Among 11 ZIP codes in Etowah County, 35904 has the 7th-highest two-bedroom rent (county range $920–$1,320). The median county two-bedroom FMR in Alabama is $975, so ZIP 35904 is 4% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35904
BedroomsFY 2027Change90–110% range
Studio$650+4.8%$585–$715
1BR$800+3.9%$720–$880
2BR$940+4.4%$846–$1,034
3BR$1,190+9.2%$1,071–$1,309
4BR$1,350+6.3%$1,215–$1,485

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35904
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$650$800$940$1,190$1,350
FY 2026$620$770$900$1,090$1,270
FY 2025$640$800$930$1,120$1,240
FY 2024$630$810$930$1,160$1,240
FY 2023$500$640$750$950$1,010

Two-bedroom rent in nearby Etowah County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35904
35901$960+2.1%
35902$980+4.3%
35903$990+5.3%
35904Current$940—
35905$920−2.1%
35906$1,170+24.5%
35907$1,320+40.4%
35952$920−2.1%
35954$920−2.1%
35956$1,000+6.4%
35990$920−2.1%

Questions about ZIP 35904 rents

How much will Section 8 pay for a two-bedroom in ZIP 35904?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $975, which applies unless the housing authority uses Small Area FMRs, that basic range is $878 to $1,073 a month; under the ZIP-level Small Area FMR of $940 it would be $846 to $1,034. 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 35904 in?

ZIP 35904 is in the Gadsden, AL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $975.

How much did fair market rent change in ZIP 35904 for FY 2027?

The two-bedroom FMR rose 4.4%, from $900 in FY 2026 to $940 in FY 2027. Since FY 2023 it has risen 25.3%.

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