Location: Daphne-Fairhope-Foley, AL | Metro: Daphne-Fairhope-Foley, AL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,690 |
| 5 Bedrooms | $3,120 |
| 6 Bedrooms | $3,494 |
| 7 Bedrooms | $3,774 |
| 8 Bedrooms | $3,963 |
U.S. Census Bureau data (2024)
The ZIP code 36559, located within the Daphne-Fairhope-Foley, AL Metropolitan Statistical Area (MSA), presents an interesting profile when compared against typical ZIP codes in this MSA. Its Fair Market Rent (FMR) for Fiscal Year 2024 is set at $1560, which is a critical figure for landlords and small-portfolio investors considering Section 8 housing opportunities.
A notable absence in the data is the market rent and home value figures for ZIP 36559. This lack of information suggests that the area might be less developed or less frequently analyzed compared to other parts of the Daphne-Fairhope-Foley MSA. The absence of these figures makes it challenging to directly compare 36559's rental and property values to those of the broader MSA.
The 0.0% renter share indicates that virtually all residents in ZIP 36559 own their homes. This is a stark contrast to typical ZIP codes within the Daphne-Fairhope-Foley MSA, where a higher proportion of residents might be renters. Such a low renter share typically means fewer rental properties available, which can affect the demand for Section 8 units. However, the presence of a defined FMR without corresponding market rent data suggests that while there may be limited rental activity, the government has still established a benchmark for affordable housing.
Given the specific figures, ZIP 36559 appears to be neither a value pocket nor a premium sub-market based on its home ownership characteristics and the defined FMR. Instead, it represents a unique niche within the Daphne-Fairhope-Foley MSA, likely appealing to homeowners rather than renters. The absence of significant rental activity means that landlords should focus on the FMR as the primary metric for assessing potential returns and compliance with Section 8 guidelines.
Landlords and investors should also consider the broader context of the Daphne-Fairhope-Foley MSA. While ZIP 36559 itself shows little indication of being a sweet spot for Section 8 investments due to its low renter share, understanding how the FMR compares to the overall rental market in the MSA could provide insights into the attractiveness of renting in this area versus others. To make informed decisions, it would be prudent to investigate further into the local rental market dynamics and property values in neighboring ZIP codes.
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.