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 ZIP code 36671 is located in the city of Mobile, Alabama. Unfortunately, the specific demographic data such as population, percentage of renters, median income, and median home value are not available in the current search results. However, we can still provide an analysis based on the available information regarding the rental market.
Moving onto the rent economics, the Fair Market Rent (FMR) for ZIP code 36671 in fiscal year 2024 is set at $1090. This figure serves as a benchmark for rental prices in the area and is used to determine eligibility for housing assistance under the Section 8 program. While the exact market rent is not specified, it's important to note that FMRs are typically higher than the actual market rents, especially in areas where the cost of living is relatively low.
Given the lack of detailed demographic data, it's challenging to definitively classify whether ZIP 36671 is better suited for a hands-off voucher operator or a hands-on value-add buyer. However, the FMR can help guide investment decisions. If the local market rent is significantly lower than $1090, then a hands-off voucher operator might find it easier to manage properties with minimal tenant turnover. Conversely, if there is potential for increasing property values through improvements, a value-add buyer could benefit from the higher FMR, as it suggests a willingness to pay more for quality housing.
To make a more informed decision, landlords and small-portfolio investors should conduct further research into the local real estate market and the specific needs of tenants in ZIP 36671. Engaging with local real estate agents and reviewing recent sales and rental trends would provide a clearer picture of the opportunities and challenges in this area.
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.