FY2027 Small Area FMR · Waterloo, AL

ZIP 35677 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 35677 (Waterloo, AL) is $1,020 a month, unchanged from FY2026. That is 6% below the Florence-Muscle Shoals, AL area-wide FMR of $1,085.

2-bedroom SAFMR$1,020per month ■ 0.0%

Area-wide 2 BR FMR$1,085Florence-Muscle Shoals, AL

Rank in the area15thof 22 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$918

2 BR Small Area FMR$1,020

110% of SAFMR$1,122

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$740▲ 4.2%

1 BR$780■ 0.0%

2 BR$1,020■ 0.0%

3 BR$1,270▲ 0.8%

4 BR$1,350▼ 9.4%

FY2027 FY2026

Where 35677 sits in the Florence-Muscle Shoals, AL area

Of the 22 ZIP codes HUD lists for the area, 35677 has the 15th highest two-bedroom Small Area FMR. Florence-Muscle Shoals, AL is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,085 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,020 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$740	$666 – $814	$760	$710
1 bedroom	$780	$702 – $858	$834	$780
2 bedrooms	$1,020	$918 – $1,122	$1,085	$1,020
3 bedrooms	$1,270	$1,143 – $1,397	$1,348	$1,260
4 bedrooms	$1,350	$1,215 – $1,485	$1,426	$1,490

A household renting a two-bedroom home at the Small Area FMR of $1,020 needs about $40,800 a year to keep housing costs at 30% of income. The area median family income is $95,900 and the 80% low-income limit for four people is $72,450. ZIP code 35677 lies mainly in Lauderdale County. See the Florence-Muscle Shoals, AL metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
38471	Lutts	10.3 mi	$1,000
38852	Iuka	13.1 mi	$920
38365	Pickwick Dam	13.4 mi	$1,220
35633	Florence	14.1 mi	$1,070
38372	Savannah	14.9 mi	$1,000
35616	Cherokee	14.9 mi	$1,030

Questions

What is the Fair Market Rent for ZIP code 35677?

HUD's FY2027 Small Area Fair Market Rents for 35677 are $740 (studio), $780 (1 BR), $1,020 (2 BR), $1,270 (3 BR) and $1,350 (4 BR) a month.

What is the Section 8 payment standard in 35677?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 35677 that range is $918 to $1,122 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 35677?

The FY2026 income limits of the Florence-Muscle Shoals, AL area apply: median family income $95,900, low-income (80%) limit $72,450 for a family of four.