Section 8 Fair Market Rent (FMR) for ZIP 36035 - 2027

Location: Pike County, AL | Metro: Crenshaw County, AL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$810
2 Bedrooms	$1,050
3 Bedrooms	$1,270
4 Bedrooms	$1,470
5 Bedrooms	$1,705
6 Bedrooms	$1,910
7 Bedrooms	$2,063
8 Bedrooms	$2,166

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,758

Median Household Income

$53,125

Housing Units

1,007

Renter Percentage

18.3%

Occupancy Rate

78.7%

Renter Occupied

145

A landlord considering ZIP code 36035 for Section 8 investments should follow these steps:

Does FMR $960 (metro FY 2026) clear debt service on a $145,184 property?
- If the annual debt service on a property valued at $145,184 is less than $11,520 ($960 per month), then yes, FMR clears debt service.
- If the annual debt service exceeds $11,520, then no, FMR does not clear debt service.
Is market rent $683 (Census ACS) above, at, or below FMR?
- The market rent of $683 is below the FMR of $960, indicating that properties in this area could potentially be underpriced relative to Section 8 standards.
Are 18.3% renters + N/A-day DOM enough demand?
- The percentage of renters at 18.3% suggests moderate demand for rental properties.
- The absence of data regarding days on the market (DOM) makes it difficult to assess the speed at which rental units are filled.
- It depends on whether the moderate rental demand aligns with the landlord's investment goals and risk tolerance.

Based on the provided data, if the debt service is covered by the FMR and the landlord is willing to accept rents below the FMR, then the ZIP code has potential. However, the lack of DOM data introduces uncertainty about how quickly properties can be rented out, which is critical for cash flow and return on investment.

To make a final decision, a landlord must evaluate their financial situation against the FMR and consider the implications of renting below market rates. Additionally, understanding the local rental market dynamics, beyond just the percentage of renters, will be crucial for assessing demand and occupancy risks.

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.