FY2026 Fair Market Rents — Franklin County
Studio
$576
1BR
$704
2BR
$776
3BR
$976
4BR
$1,071
Franklin County, Alabama
FIPS 01059 · County-level FMR and income limit data
FMR Area: Franklin County, AL
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $576 | $6,912 |
| 1-Bedroom | $704 | $8,448 |
| 2-Bedroom | $776 | $9,312 |
| 3-Bedroom | $976 | $11,712 |
| 4-Bedroom | $1,071 | $12,852 |
To afford the FY2026 2-bedroom FMR of $776/mo under the 30%-of-income rule, a household needs about
$31,040/yr ($2,587/mo). Area Median Income is $70,900.
At AL's federal minimum wage of $7.25/hr, a worker would need to work 83 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $576 | $704 | $776 | $976 | $1,071 |
| FY2025 | $578 | $688 | $772 | $971 | $1,189 |
| FY2024 | $642 | $763 | $857 | $1,042 | $1,321 |
| FY2023 | $560 | $655 | $740 | $901 | $1,251 |
| FY2022 | $530 | $588 | $705 | $871 | $1,171 |
| FY2021 | $479 | $539 | $634 | $796 | $1,043 |
| FY2020 | $474 | $524 | $612 | $775 | $829 |
FY2026 Income Limits
Area Median Income: $70,900
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $15,960 | $21,640 | $27,320 | $33,000 | $38,680 | $43,050 |
| 50% AMI | $26,000 | $29,700 | $33,400 | $37,100 | $40,100 | $43,050 |
| 80% AMI | $41,550 | $47,500 | $53,450 | $59,350 | $64,100 | $68,850 |