Section 8 Fair Market Rent (FMR) for ZIP 36049 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$700
1 Bedroom	$700
2 Bedrooms	$920
3 Bedrooms	$1,100
4 Bedrooms	$1,210
5 Bedrooms	$1,404
6 Bedrooms	$1,572
7 Bedrooms	$1,698
8 Bedrooms	$1,783

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,125

Median Household Income

$51,126

Housing Units

2,559

Renter Percentage

33.9%

Occupancy Rate

81.3%

Renter Occupied

706

ZIP code 36049, located in Mobile, Alabama, is a residential area that offers a mix of urban convenience and suburban living. The region is characterized by a diverse housing market, with both rental properties and homeownership options available. This analysis will provide insights into the key metrics that define the real estate landscape in this area, focusing on how these factors influence investment decisions for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 36049 is set at $900 for the fiscal year 2026, indicating the government's benchmark for affordable rental units in the area.
The average market rent for properties in ZIP 36049, based on Census American Community Survey data, stands at $641, suggesting that the actual rents charged are below the FMR, which could be due to local economic conditions or oversupply.
The median home value in this ZIP code is $139,987, reflecting a relatively affordable market for potential homeowners and investors looking to purchase properties.
Renters make up 33.9% of the population, showing a significant demand for rental properties but also highlighting the importance of considering the homeowner segment in investment strategies.
The median income for residents in ZIP 36049 is $51,126, providing a context for the financial capacity of the local population to afford housing, whether through renting or purchasing.

Synthesizing these points, ZIP 36049 presents a balanced opportunity for real estate investment, particularly in rental properties. With actual market rents lower than the FMR, there is room for price adjustments to meet affordability standards without significantly exceeding current rates. The median home value suggests that property purchases can be made at reasonable costs, and the substantial renter share indicates a strong demand for rental units. However, investors should also consider the median income level when setting rents or determining property values, ensuring that investments align with the financial realities of the local market. This area is suitable for those looking to enter a stable, moderately priced real estate market with clear demand for rental properties.

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.