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Cherokee County/Centre/35960

35960

ZIPSAFMR
Cherokee County, AL
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$740$740
1 BR$740$740
2 BR$970$970
3 BR$1,160$1,160
4 BR$1,440$1,440
5 BR$1,656Not available
6 BR$1,904Not available
7 BR$2,190Not available
8 BR$2,519Not available

Purchase Price Calculator

Maximum purchase price
$82,225

Cost breakdown

+Likely effective rent$970
HUD FMRUsed$970
Market rentN/A
Est. payment standardN/A
-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

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 35960 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35960 (Centre, AL) is $970 a month. That is up 15.5% from $840 in FY 2026. Centre is in the Cherokee County, AL non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $986. Among 5 ZIP codes in Cherokee County, 35960 is tied for the 2nd-highest two-bedroom rent (county range $920–$1,000).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35960
BedroomsFY 2027Change90–110% range
Studio$740+19.4%$666–$814
1BR$740+8.8%$666–$814
2BR$970+15.5%$873–$1,067
3BR$1,160+14.9%$1,044–$1,276
4BR$1,440+15.2%$1,296–$1,584

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35960
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$740$740$970$1,160$1,440
FY 2026$620$680$840$1,010$1,250
FY 2025$600$670$810$980$1,220
FY 2024area FMR$664$726$887$1,072$1,327
FY 2023area FMR$574$584$759$959$1,097

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Cherokee County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35960
35959$9700.0%
35960Current$970—
35961$920−5.2%
35973$9700.0%
35983$1,000+3.1%

Questions about ZIP 35960 rents

How much will Section 8 pay for a two-bedroom in ZIP 35960?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $986, which applies unless the housing authority uses Small Area FMRs, that basic range is $887 to $1,085 a month; under the ZIP-level Small Area FMR of $970 it would be $873 to $1,067. 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 35960 in?

ZIP 35960 is in the Cherokee County, AL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $986.

How much did fair market rent change in ZIP 35960 for FY 2027?

The two-bedroom FMR rose 15.5%, from $840 in FY 2026 to $970 in FY 2027. Since FY 2025 it has risen 19.8%.

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

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