Location: Clarke County, AL | Metro: Clarke County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 36436 presents a complex scenario for both tenants and landlords. With a median income figure currently unavailable, it's challenging to assess the average household's ability to afford the local market rate, which is also not specified. However, we can draw some conclusions based on the available data.
The Fair Market Rent (FMR) for the metro area in fiscal year 2026 stands at $790. This figure represents the voucher payment standard, indicating the maximum amount HUD will pay landlords for eligible households. In comparison, if the local market rate were higher than $790, it would suggest a significant affordability gap for those relying on housing vouchers.
With 28.9% of the population renting and a total population of 564, there is a notable demand for rental properties. However, this demand could be constrained by the affordability issue, especially if the median income is lower than the implied cost of living suggested by the FMR.
The takeaway for landlords considering voucher versus cash-pay strategies is clear. While voucher payments offer a steady, government-backed income stream, the fixed rate of $790 might limit profitability compared to charging market rates. On the other hand, cash-paying tenants might provide higher rents but come with their own set of risks, such as the potential for higher vacancy rates due to the affordability gap.
Landlords should weigh these factors carefully. If the local market rate significantly exceeds $790, pursuing cash-paying tenants could maximize profits but requires confidence in the area's economic stability and the ability to compete effectively in a market where affordability is a concern. Conversely, accepting vouchers ensures a stable tenant base but caps rental income at the FMR level.
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.