Location: Crenshaw County, AL | Metro: Montgomery, AL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 36046 presents several challenges for potential Section 8 landlords. Firstly, tenant turnover is a significant concern due to the discrepancy between the market rent and the Fair Market Rent (FMR) set at $1080 for FY 2024. This difference can lead to difficulties in attracting and retaining tenants who qualify for the program. Secondly, vacancy exposure is a critical risk factor, especially when the days on market (DOM) figure is unavailable. This lack of data makes it hard to predict how long properties might remain vacant, potentially leading to financial strain.
Deferred maintenance is another issue to consider. With a typical home value of $147,528 and a median income of $41,974, homeowners may struggle to afford necessary repairs and upkeep. This can impact the quality of the property and the experience of the tenants, which is particularly important for Section 8 properties that must meet specific housing quality standards.
However, these risks are balanced by the high concentration of renters in the area. The 11.0% renter share indicates a robust demand for rental housing, which often translates into higher demand for Section 8 vouchers. In areas with a significant renter population, there tends to be a larger pool of eligible tenants looking for affordable housing options, thereby increasing the likelihood of finding qualified tenants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.