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 |
To classify ZIP code 36691 in Alabama, we need to analyze the available data points regarding yield and stability. The primary figure given for yield analysis is the Fair Market Rent (FMR), which stands at $1090 for fiscal year 2024. However, critical market-specific data such as average market rent and median home value are not provided, making it challenging to assess the overall yield potential accurately.
On the stability front, key indicators such as the percentage of renters, days on market (DOM), and median household income are missing. Without these figures, determining the stability of the rental market in ZIP 36691 remains speculative.
Given the limited dataset, we can infer that the ZIP code might offer a decent yield based on the FMR alone, but without comparative market rent figures, it's impossible to confirm if this translates into higher-than-average returns. The absence of median home value suggests that flipping properties might be less attractive here, as there isn't enough information to gauge appreciation or resale potential effectively.
The stability assessment is similarly hampered by the lack of necessary data. Typically, a higher percentage of renters and lower DOM would indicate a stable rental market, while median household income helps understand the economic health of the area. With these missing, we cannot make a robust judgment on the stability of the market.
In conclusion, ZIP 36691 appears to be a zone with potential for steady cash flow, primarily driven by the FMR figure of $1090. However, it is neither clearly classified as a high-yield/low-stability flip-style market nor definitively labeled as a stable cash-flow zone due to insufficient data on local market conditions and economic indicators.
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.