Location: Choctaw County, AL | Metro: Choctaw County, AL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 36908 is situated in a small, close-knit community with a total population of 1,795 residents. Only 10.0% of these residents are renters, indicating a primarily owner-occupied area. The median income in this ZIP code is $68,125, suggesting a middle-class demographic. However, the median home value is not available, which might imply a lack of comprehensive data or a unique housing market situation.
When it comes to rent economics, the Fair Market Rent (FMR) for Section 8 vouchers in the metro area for fiscal year 2026 is set at $800. This is notably lower than the actual market rent, which stands at $983 according to Census ACS data. This discrepancy means that landlords who participate in the Section 8 program will receive less than the market rate for their properties, potentially leading to financial considerations when deciding whether to accept vouchers.
Given the low percentage of renters and the relatively high median income, ZIP 36908 may not be an ideal location for hands-off voucher operators. The demand for rental properties, especially those accepting Section 8 vouchers, could be limited due to the higher proportion of homeowners. For hands-on value-add buyers, however, there might be opportunities to improve properties and increase their attractiveness to potential tenants, thereby justifying a higher rent that aligns more closely with the market rate of $983.
In conclusion, while the Section 8 program provides a steady stream of rental income, the economic landscape of ZIP 36908 suggests that landlords should carefully consider their investment strategy. For those willing to engage actively in property management and enhancement, the area could offer promising returns. Conversely, those seeking a passive investment with minimal tenant turnover may find the market challenging.
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.