Location: Bullock County, AL | Metro: Macon County, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The ZIP code 36029 stands out due to its unique mix of low population density and relatively high median home values. With only 792 residents, it has a rental rate of 22.6%, indicating that a significant portion of the housing stock is owner-occupied. The median income for residents is $49,594, which is modest compared to the median home value of $237,861. This suggests that homeownership is a considerable financial commitment for those living in this area.
Moving to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 36029 is set at $1080 for fiscal year 2024. However, the lack of available market rent data means that there's no direct comparison to gauge how the FMR aligns with actual rental prices. Despite this, the FMR figure provides a benchmark for landlords who accept Section 8 vouchers, ensuring they receive a reasonable rent for their properties.
The data signature for ZIP 36029 reads as stable. The relatively high median home value indicates a degree of economic stability, even if the income levels are not exceptionally high. The modest rental rate suggests that the housing market is primarily driven by homeowners rather than renters, which can be advantageous for landlords who wish to attract tenants with Section 8 vouchers. Given the scarcity of rental units, landlords who offer well-maintained properties at the FMR level will likely find a steady stream of interested tenants.
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.