Location: Mobile, AL | Metro: Mobile, AL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
The classification of ZIP 36590 in Alabama hinges largely on the available data. The Fair Market Rent (FMR) for the area is set at $1090 for the fiscal year 2024, which is a key figure for understanding the yield potential.
With the FMR at $1090, this suggests a moderate yield environment. However, the lack of specific market rent and home value data makes it difficult to provide a precise comparison. The absence of such figures could indicate that the local market is less dynamic or has limited recent activity.
Regarding stability, the data is also incomplete. Without information on the percentage of renters, days on market (DOM), and median income, it's challenging to gauge the overall stability of the area. These metrics are crucial for assessing the risk and predictability of cash flow.
Given the available data, ZIP 36590 appears to be neither a high-yield/low-stability flip-style market nor a steady-cashflow zone. It falls somewhere in between, characterized by moderate yield but unknown levels of stability due to the lack of comprehensive market data. To make a more definitive assessment, additional information on local rental markets, home values, and economic indicators would be necessary.
Data Sources: FMR data from HUD (2027).
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.