Birmingham-Hoover, AL · Alabama
Shelby County
ZIP 35007
226,955 residents1,336 permits TTM$93,543 median HHI17 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$298,700
ACS 5-Year
Cap rate proxy
5.1%
FMR × 0.65 ÷ Home Value
Rent-to-income
17.3%
HUD FMR ÷ ACS HHI
Net migration
+2.22%
IRS SOI
Permits (TTM)
1,336
Census BPS
Climate risk
90.3
FEMA NRI (0–100)
ZIP 35007
Median home value
$288,093
Gross yield
5.9%
Cap rate
7.2%
Rent gap
-22.1%
Affordability
P/I: 3.1R/I: 22.2%
Section 8 detail
SAFMR: $1,420Rent: $1,348Gap: 5.3%
ZIP code breakdown17 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 35040 | $254,170 | $1,640 | 7.7% | 7.5% | 2.7% |
| 35147 | $322,664 | $1,820 | 6.8% | 5.0% | 25.9% |
| 35185 | $298,700county est. | $1,460 | 5.9% | 5.4% | 7.7% |
| 35115 | $240,852 | $1,020 | 5.1% | 8.3% | -62.4% |
| 35178 | $249,796 | $1,020 | 4.9% | 6.5% | -32.2% |
Ranked by composite score
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Demographics
Owner-occupied
81.3%
Census ACS
Vacancy rate
5.9%
Census ACS
Bachelor's degree +
46.2%
Census ACS
Rent burdened
44.7%
Census ACS (>30% income)
Median age
40.0
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026