Section 8 Fair Market Rent (FMR) for ZIP 36728 - 2027

Location: Wilcox County, AL | Metro: Marengo County, AL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$840
2 Bedrooms	$920
3 Bedrooms	$1,270
4 Bedrooms	$1,350
5 Bedrooms	$1,566
6 Bedrooms	$1,754
7 Bedrooms	$1,894
8 Bedrooms	$1,989

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

998

Median Household Income

$17,679

Housing Units

411

Renter Percentage

14.0%

Occupancy Rate

71.0%

Renter Occupied

The ZIP code 36728, located in Alabama, offers a unique opportunity for real estate investors interested in the rental market. This area is characterized by a blend of suburban and rural features, providing a stable environment for property management and investment.

Fair Market Rent (FMR): The FMR for ZIP 36728 is set at $850 for metro FY 2026, indicating a moderate cost for rental units that aligns with the needs of the local population.
Market Rent: According to Census ACS data, the average market rent is $566, which suggests there is potential for increasing rents towards the FMR without significantly deterring tenants.
Renter Share: With 14.0% of the population being renters, the demand for rental properties is steady but not overwhelming, allowing for manageable competition among landlords.
Median Home Value: The median home value is not available, which might indicate a limited supply of owner-occupied homes, potentially driving up demand for rentals.
Days on Market (DOM): The data does not provide a specific figure for DOM, but this metric would be crucial for understanding how quickly properties are rented out in the area.
Median Income: The median income in ZIP 36728 is $17,679, which is relatively low and implies that rental prices should remain affordable to attract and retain tenants.

In summary, ZIP 36728 presents a niche market for rental properties with a clear gap between the Fair Market Rent and the current market rent. Landlords can expect a moderate tenant pool with limited competition, making it feasible to increase rents gradually. However, due to the low median income, it's essential to keep rental costs reasonable to ensure occupancy rates remain high. The lack of data on median home values and days on market underscores the importance of local research to make informed decisions about investment opportunities.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

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.