Location: Marengo County, AL | Metro: Marengo County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 36736 is situated in a small, close-knit community with a total population of 1,559 residents. The area has a relatively low percentage of renters at 18.8%, indicating a predominantly owner-occupied environment. Median household income in this region stands at $55,759, suggesting a middle-class demographic where most families can afford homeownership. However, the median home value is not available, which could imply that the housing market is either underdeveloped or lacks sufficient data points for accurate valuation.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,140. This figure represents the maximum amount that a landlord can charge a tenant receiving federal assistance, such as Section 8 vouchers. Notably, the market rent for ZIP 36736 is also not available, making it difficult to assess how competitive the FMR is against local market rates. In such scenarios, landlords must rely on the FMR as a guideline for setting rents, ensuring compliance with federal regulations while potentially missing out on higher market-driven rates.
Given these conditions, ZIP 36736 would likely be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters suggests limited demand for rental properties, and the reliance on FMR without a clear understanding of market rents indicates a conservative approach to managing cash flows. For those interested in maximizing returns through active property management and improvements, there might be better opportunities in areas with a higher percentage of renters and more robust market data.
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.