Location: Monroe County, AL | Metro: Conecuh County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The ZIP code 36401 stands out due to its unique demographic and economic characteristics. With a population of 7,342 residents, 27.8% of whom rent their homes, this area has a median income of $40,792 and a median home value of $118,481. These figures paint a picture of a community that is neither overwhelmingly wealthy nor impoverished, but rather balanced, with a significant portion of renters indicating a mixed housing market.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $780. This figure is notably lower than the current market rate of $865, based on Census ACS data. The discrepancy between the FMR and the actual market rate suggests that landlords might face a challenge in covering their costs solely through Section 8 vouchers. However, the potential for supplementary income from other sources or non-voucher tenants remains viable given the local rental dynamics.
Evaluating the overall data signature of ZIP 36401, it appears to be relatively stable. The median income and home values indicate a consistent economic environment, while the rental percentage shows a steady demand for rental properties. This stability can be beneficial for landlords and small-portfolio investors who seek predictable returns without the volatility often associated with transitional markets. However, the slight gap between the FMR and market rates should be considered when deciding whether to participate in the Section 8 program.
To summarize, ZIP 36401 presents a balanced opportunity for landlords and investors. The area's demographics support a stable market, yet the economic realities of Section 8 vouchers mean careful consideration of financial strategies to ensure profitability.
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.