Location: Randolph County, AL | Metro: Randolph County, AL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,240 |
| 5 Bedrooms | $1,438 |
| 6 Bedrooms | $1,611 |
| 7 Bedrooms | $1,740 |
| 8 Bedrooms | $1,827 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,100 | $336,882 | 0.33% | F |
| 4BR | $1,240 | $538,633 | 0.23% | F |
U.S. Census Bureau data (2024)
A household in ZIP code 36278, with a median income of $58,214, faces a challenging rental market where the average monthly rent stands at $701 according to the latest Census ACS data. This places significant financial strain on residents, as the median income suggests they would struggle to meet this market rate comfortably.
The situation becomes even more complex when considering the Federal Market Rent (FMR) standard set for the area, which is $780 for fiscal year 2026. This is the benchmark used for Section 8 housing vouchers. It means that voucher holders are entitled to apartments costing up to $780 per month, which is slightly above the current market rate but still within reach for many landlords.
With only 19.8% of the 4,299 population being renters, competition among landlords is likely to be intense. The affordability gap between the median income and both the market rate and the FMR standard indicates that there is a substantial portion of the population who cannot afford typical rental rates without assistance. This makes Section 8 vouchers an attractive option for securing tenants, especially given the limited number of potential renters.
The takeaway for landlords is clear: accepting Section 8 vouchers can provide a steady stream of reliable tenants in a market where finding cash-paying renters might be difficult due to the high cost of living relative to income levels. While voucher payments may seem lower compared to market rates, they ensure consistent occupancy and a stable income source, which is crucial for maintaining a successful rental property portfolio.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.