Section 8 Fair Market Rent (FMR) for ZIP 36343 - 2027

Location: Dothan, AL | Metro: Dothan, AL HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$770
2 Bedrooms	$970
3 Bedrooms	$1,300
4 Bedrooms	$1,420
5 Bedrooms	$1,647
6 Bedrooms	$1,845
7 Bedrooms	$1,993
8 Bedrooms	$2,093

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,496

Median Household Income

$47,188

Housing Units

861

Renter Percentage

23.9%

Occupancy Rate

80.3%

Renter Occupied

165

Housing Authorities Serving ZIP 36343

Housing Authority of the City of Dothan (Dothan, AL) - 1,663 Section 8 vouchers
HA ASHFORD (Ashford, AL)
Cottonwood Housing Authority (Cottonwood, AL)
Housing Authority of the City of Columbia (Columbia, AL)

The ZIP code 36343, located in Alabama, presents a unique opportunity for real estate investors interested in the Section 8 housing market. This area has a well-defined rental sector and a steady demand for affordable housing solutions.

The Fair Market Rent (FMR) for ZIP 36343 in fiscal year 2024 is set at $980, providing a benchmark for rental rates that landlords can use to price their properties competitively while ensuring they meet the requirements for Section 8 tenants.
According to Census ACS data, the average market rent in the area stands at $907. This indicates that landlords participating in the Section 8 program can expect slightly higher rents compared to the general market, thus potentially increasing profitability.
The median home value in ZIP 36343 is $152,050, making it accessible for both first-time homeowners and investors looking to purchase properties at a reasonable cost.
Renters make up 23.9% of the population in this ZIP code, suggesting a moderate demand for rental properties and a balanced market between owners and renters.
The median income for residents in ZIP 36343 is $47,188, which aligns with the income eligibility criteria for many Section 8 programs, ensuring a stable pool of potential tenants.

Investors should take note of these key metrics when considering opportunities in ZIP 36343. The higher FMR compared to the average market rent provides a financial edge for those willing to participate in the Section 8 program. Additionally, the median home value offers a low barrier to entry for property acquisition. With a median income that fits within Section 8 guidelines, there's a consistent demand for affordable housing, making this area ripe for investment in rental properties. However, the moderate renter share suggests that while there is demand, it's not overwhelming, allowing for a diverse portfolio mix of rental and owner-occupied homes.

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.