Location: Crenshaw County, AL | Metro: Coffee County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The market in ZIP code 36009 presents a dynamic scenario where rental properties are firmly anchored in the local economy. With a Fair Market Rent (FMR) set at $830 for fiscal year 2026, it reflects a benchmark that landlords can use to ensure their rents are competitive and in line with federal guidelines. The actual market rent, as per the latest Census ACS data, stands at $703, indicating that while there's room for slight increases, landlords should be cautious not to exceed the FMR which could affect eligibility for tenants receiving housing assistance.
The median home value in the area is $144,866, suggesting that homeownership is accessible but also implying that a significant portion of the population may opt for renting due to affordability or lifestyle choices. This is corroborated by the fact that 28.7% of the households in this ZIP code are renters, a figure that points towards sustained long-term housing pressure. As the percentage of renters increases, so does the demand for rental units, creating a robust environment for landlords and small-portfolio investors.
The absence of data on price-cut share and days on market (DOM) suggests that the market is relatively stable, without significant fluctuations that would necessitate frequent adjustments to rental prices or prolonged periods of vacancy. However, the gap between the FMR and the current market rent implies that the rental market has some upward potential, although it will need to be managed carefully to avoid deterring price-sensitive tenants.
In conclusion, ZIP 36009 is a market where demand appears to be steady, if not slightly outpacing supply, particularly given the significant renter share. Landlords should focus on maintaining quality properties at reasonable rents to attract and retain tenants, positioning themselves well within the economic parameters of the area.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.