Section 8 Fair Market Rent (FMR) for ZIP 36303 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 36303

• Housing Authority of the City of Dothan (Dothan, AL) - 1,663 Section 8 vouchers
• HOUSING AUTHORITY OF THE CITY OF OZARK (Ozark, AL) - 438 Section 8 vouchers
• HA MIDLAND CITY (Midland City, AL) - 96 Section 8 vouchers
• HA ASHFORD (Ashford, AL)
• Housing Authority of the City of Daleville (Daleville, AL)
• Cottonwood Housing Authority (Cottonwood, AL)
• Housing Authority of the City of Headland, AL (Headland, AL)
• Abbeville Housing Authority (Abbeville, AL)
• Housing Authority of the City of Newton (Newton, AL)
• Housing Authority of the City of Columbia (Columbia, AL)

The ZIP code 36303, located in Dothan, Alabama, represents a stable housing market with a significant rental component, making it attractive for real estate investors interested in both single-family homes and multi-unit properties. The area benefits from a mix of residential and commercial zones, offering tenants access to local amenities and services.

• The Fair Market Rent (FMR) for ZIP 36303 in fiscal year 2024 is set at $900, providing a benchmark for affordable housing units under the Section 8 program.
• The market rent, as measured by the Zillow Observed Rental Index (ZORI), stands at $1,217, indicating that there is potential for higher rents outside of subsidized housing programs.
• The median home value in the area is $184,636, reflecting a relatively affordable market for property acquisition.
• Renters make up 41.3% of the population, suggesting a robust demand for rental properties and a diverse tenant pool.
• The days on market (DOM) for listings is 26 days, which is below the national average, pointing to a brisk pace of sales and rentals.
• The median household income is $54,147, offering insight into the economic profile of the area and the ability of residents to pay rent or mortgages.

In summary, ZIP 36303 presents a balanced opportunity for real estate investment. With a substantial portion of the population renting and a healthy market rent above the FMR, landlords can expect steady demand for their properties. The median home value suggests that purchasing properties could be financially feasible, while the quick turnover rate indicated by the DOM highlights the market's efficiency. However, investors should consider the median income when setting rental rates to ensure affordability and maintain occupancy levels.

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.