Section 8 Fair Market Rent (FMR) for ZIP 36580 - 2027

Location: Daphne-Fairhope-Foley, AL | Metro: Daphne-Fairhope-Foley, AL MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$990
1 Bedroom	$1,080
2 Bedrooms	$1,220
3 Bedrooms	$1,530
4 Bedrooms	$1,960
5 Bedrooms	$2,274
6 Bedrooms	$2,547
7 Bedrooms	$2,751
8 Bedrooms	$2,889

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,638

Median Household Income

$62,802

Housing Units

2,897

Renter Percentage

18.8%

Occupancy Rate

83.5%

Renter Occupied

454

Housing Authorities Serving ZIP 36580

HA FOLEY (Foley, AL) - 374 Section 8 vouchers
HA BAY MINETTE (Bay Minette, AL)

Summerdale, AL, located in ZIP code 36580, is a growing suburban area that offers a blend of rural charm and urban convenience. The local real estate market is characterized by a mix of homeowners and renters, with rental properties playing a significant role in the community.

The Fair Market Rent (FMR) for ZIP 36580 is set at $1,130 for fiscal year 2024, indicating the average rent price deemed fair by HUD for a two-bedroom apartment.
The actual market rent, according to Census ACS data, stands at $1,058, slightly below the FMR but still competitive within the region.
The median home value in Summerdale is $288,672, which is a key metric for understanding the overall economic status of the area.
Renters make up 18.8% of the housing market, suggesting a moderate demand for rental units.
The median household income in Summerdale is $62,802, providing insight into the financial capacity of potential tenants.

Investors looking to enter the Summerdale real estate market should note the favorable balance between Fair Market Rents and actual market rents, indicating a healthy rental environment. The median home value suggests a stable economy where property investments can yield steady returns. With a significant portion of the population renting, there is a clear opportunity to cater to this demographic. However, the median income level should be considered when setting rental prices to ensure affordability and tenancy stability. Overall, Summerdale presents a promising investment landscape for those interested in both owning and managing rental properties.

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.