Location: Montgomery, AL | Metro: Montgomery, AL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
The analysis of ZIP code 36008 within the Montgomery, AL MSA reveals several critical points for landlords and small-portfolio investors.
The rent math does not work favorably due to the absence of market rent data. The Fair Market Rent (FMR) for ZIP 36008 in fiscal year 2024 is set at $1240. Without comparative market rent figures, it's challenging to assess if this rate adequately covers operational costs and provides a profit margin.
Regarding acquisition affordability, the lack of specific data on median home values, days on market (DOM), and the percentage of homes that have undergone price reductions makes it difficult to provide a precise assessment. Landlords should seek additional local real estate market insights to determine if property acquisition is financially viable.
Tenant demand appears strong, though exact figures are missing. The ZIP code hosts a substantial population with a significant portion being renters. This high demand for rental properties suggests that finding tenants should not be an issue once properties are available.
In summary, while the potential for tenant demand in ZIP 36008 is promising, the incomplete data on market rents and property acquisition metrics hinders a comprehensive financial analysis. Landlords must conduct thorough research into current market conditions to make informed decisions about investments in this area.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.