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 |
1090 is the Fair Market Rent (FMR) for ZIP code 36601 in Alabama for fiscal year 2024. This figure represents the maximum amount landlords can charge for a Section 8 voucher in this area. However, the market rent for the same region is not available, which means there's no direct comparison to gauge how the FMR stacks up against what tenants might typically pay. Similarly, the median home value is also unknown, leaving a gap in understanding the overall housing market dynamics in this ZIP code. The percentage of renters in the area is not provided, so it's unclear what portion of the population relies on rental properties. The median income for ZIP 36601 is not specified, making it difficult to assess the financial capability of potential tenants. The days on market (DOM) statistic is not available, indicating an absence of data on how long properties typically remain unsold before they're listed again. Lastly, the percentage of properties that have had their prices cut is also missing, which would be crucial for understanding the competitive landscape of property pricing.
1090 is the benchmark for rental rates in ZIP 36601 under the Section 8 program. While this provides a clear guideline for landlords participating in the program, the lack of market rent data means we cannot evaluate whether this rate is above or below what is typically charged. Without the median home value, it's challenging to determine the relative attractiveness of renting versus owning in this area. The absence of the renter share percentage leaves us uncertain about the demand for rental properties. With no median income figure, assessing the economic profile of potential tenants becomes speculative. The unavailability of days on market and price-cut share percentages suggests a limited dataset, which could indicate a stable market where few homes are listed and fewer need price adjustments.
1090 sets the ceiling for Section 8 rents in ZIP 36601, but without comprehensive market data, it's impossible to provide a definitive verdict on the profitability of participating in the program here. Landlords should proceed with caution, considering the available data points and seeking additional local insights to make informed decisions.
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.