Location: Marengo County, AL | Metro: Marengo County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The ZIP code 36748, located in Alabama, presents a dynamic rental market that is currently moving towards equilibrium. With a Fair Market Rent (FMR) set at $810 for the fiscal year 2026, it's slightly above the current market rent of $764 as reported by the Census American Community Survey (ACS). This suggests that while there is a push towards higher rents, the actual rental rates have yet to fully align with the federal guidelines, indicating a potential for upward movement in rental prices.
The median home value in the area stands at $109,800, which is relatively low compared to national averages. This can be an attractive factor for first-time homebuyers and those looking for affordable homeownership options. However, the 31.5% renter share indicates a significant portion of the population prefers or is compelled to rent rather than buy, suggesting a persistent demand for rental properties. This high renter share can be attributed to various factors including affordability concerns, job mobility, or lifestyle preferences, all of which contribute to long-term housing pressure in favor of rentals.
The absence of data on price-cut share and days on market (DOM) makes it challenging to assess the exact balance between supply and demand. However, given the slight gap between the FMR and market rent, coupled with the substantial renter share, it's reasonable to infer that demand for rental properties is robust. Landlords and small-portfolio investors should monitor these trends closely, as they indicate a market where rental properties are likely to remain in high demand. The dynamics suggest that maintaining competitive rental rates and ensuring property quality will be key strategies for success in this area.
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.