Location: Crenshaw County, AL | Metro: Montgomery, AL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
880 FMR (zip FY 2024) indicates the Fair Market Rent for ZIP code 36036, which sets the benchmark for rental properties participating in the Section 8 program. The market rent stands at 941 dollars according to Census ACS, suggesting a slight premium over the FMR for non-subsidized rentals. With a median home value of 156,077 dollars, it's evident that the area is affordable for both buyers and renters alike. The renter share of 16.8% points to a relatively stable market where most residents own their homes, potentially reducing competition for rental properties. However, the median income of 47,557 dollars is a critical figure, as it influences the demand for subsidized housing. Despite the lack of specific data on days on market (DOM) and price-cut share, these numbers provide a comprehensive view of the rental landscape in 36036.
The 880 dollar FMR is well below the 941 dollar market rent, offering landlords a clear margin when they participate in the Section 8 program. Given the median home value of 156,077 dollars, it's reasonable to infer that the local economy supports a mix of homeownership and rental activities, making it a viable market for both types of investments. The 16.8% renter share highlights that while the majority of residents are homeowners, there is still a significant portion of the population relying on rental housing, including those who might benefit from Section 8 subsidies. The median income of 47,557 dollars suggests that many households could qualify for Section 8 assistance, increasing the potential tenant pool for subsidized units.
Investors should note that the absence of data on DOM and price-cut share does not necessarily indicate poor performance but rather a lack of specific metrics that could be crucial for decision-making. In conclusion, the 36036 ZIP code presents a balanced opportunity for landlords and small-portfolio investors interested in the Section 8 program, with the 880 dollar FMR providing a solid foundation for rental pricing and the 941 dollar market rent reflecting a healthy margin above the subsidy limit. The one-line Section 8 verdict: ZIP 36036 is a suitable investment zone for Section 8 properties, given the alignment between FMR and market rents, coupled with a substantial tenant base eligible for subsidies.
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.