Location: Macon County, AL | Metro: Macon County, AL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The situation in ZIP code 36039 presents a unique challenge for both renters and landlords. Given the median income of $38,375, it's evident that many households struggle to meet the market rate for housing, which is currently unavailable. However, the Fair Market Rent (FMR) set at $1,020 for the metro area in fiscal year 2026 offers a benchmark for affordability.
To understand the impact on renters, let's consider the typical household budget. Assuming a conservative housing expenditure ratio of 30%, a household earning the median income should allocate approximately $959 per month towards rent. This is slightly below the FMR of $1,020, indicating a modest affordability gap. The actual market rate remains unknown, but if it exceeds the FMR, it would significantly widen the gap, making it even harder for local renters to find suitable housing.
The ZIP code has a rental population of 171 individuals, representing 23.8% of the total population. This suggests a relatively small pool of potential tenants, which could intensify competition among landlords. Given the affordability constraints, landlords who accept Section 8 vouchers could have an advantage in securing tenants, as the guaranteed $1,020 payment reduces the risk associated with unpaid rent.
For landlords considering their strategy, the decision between accepting vouchers versus relying on cash-paying tenants depends on several factors. While cash-paying tenants might offer higher rents, the reliability of voucher payments and the reduced vacancy risk make them a stable option. Moreover, the limited number of renters means that landlords who do not accept vouchers might face difficulties in filling their properties, especially if the market rate is indeed higher than the FMR.
In summary, landlords in ZIP code 36039 should weigh the benefits of stability and security offered by voucher tenants against the potential for higher rents from cash-paying ones. Given the median income and the FMR, accepting vouchers could be a strategic move to ensure consistent occupancy and minimize financial 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.