Section 8 Fair Market Rent (FMR) for ZIP 36660 - 2027

FY 2027 Fair Market Rent Rates

The area covered by ZIP code 36660 in Alabama is characterized by its modest size and rural setting, which influences the housing market dynamics significantly. The Fair Market Rent (FMR) for the fiscal year 2024 provides a concrete benchmark for rental pricing in the region.

• The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 36660 is set at $1090 per month for the fiscal year 2024, indicating a stable but not highly competitive rental market.
• The specific market rent data is currently unavailable, suggesting that the local rental market might not be well-documented or may follow closely the FMR guidelines.
• No data is available on the median home value, which implies that the area may have limited residential sales activity or a predominantly rental-based housing market.
• The percentage of residents who are renters is also not provided, making it difficult to assess the overall tenant demand in the area.
• Average days on the market (DOM) for rental listings is not available, which could mean that properties are either quickly rented out or there's insufficient data to draw conclusions.
• The median household income data is missing, leaving uncertainty around the financial capacity of potential tenants in the area.

In summary, while the Fair Market Rent offers a reliable figure for setting rental prices at $1090 per month for a two-bedroom unit, the lack of detailed market data such as median home values, tenant demographics, and market rent rates presents challenges for precise market analysis. Landlords and small-portfolio investors should consider the stability of the FMR as a guide for their investment decisions in ZIP 36660, but they must also be prepared for the unpredictability inherent in less documented markets.

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.