Section 8 Fair Market Rent (FMR) for ZIP 36124 - 2027

Location: Montgomery, AL | Metro: Montgomery, AL MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$980
1 Bedroom	$990
2 Bedrooms	$1,140
3 Bedrooms	$1,460
4 Bedrooms	$1,690
5 Bedrooms	$1,960
6 Bedrooms	$2,195
7 Bedrooms	$2,371
8 Bedrooms	$2,490

ZIP code 36124, located in Alabama, is a region characterized by its stable housing market, which offers opportunities for both landlords and small-portfolio investors. The Federal Market Rent (FMR) provides a benchmark for rental rates, while other metrics offer insights into the broader economic context of the area.

The Federal Market Rent (FMR) for ZIP 36124 in fiscal year 2024 is set at $1080. This figure serves as a guideline for the maximum rental amount that can be charged under the Section 8 program.
The market rent for the area is currently N/A, indicating a lack of recent data on average rental prices outside of government programs.
The median home value in ZIP 36124 is N/A, suggesting that there is limited information available regarding the typical value of homes in this area.
The percentage of residents who are renters is N/A, making it difficult to gauge the overall demand for rental properties.
The Days on Market (DOM) for the area is N/A, which means we cannot determine the average time it takes for a property to be rented out.
The median household income in ZIP 36124 is N/A, leaving us without a clear understanding of the financial capabilities of potential tenants.

In summary, while the Federal Market Rent at $1080 offers a concrete anchor for rental pricing under the Section 8 program, the absence of key market indicators such as the average market rent, median home value, and tenant income levels presents challenges for making informed investment decisions. Landlords and small-portfolio investors should conduct further research to understand the local rental dynamics and tenant profiles before committing to investments in this area.

Data Sources: FMR data from HUD (2027).

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.