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Elmore County/Letohatchee/36047

36047

ZIPSAFMR
Elmore County, AL
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$820$820
1 BR$840$840
2 BR$960$960
3 BR$1,240$1,240
4 BR$1,430$1,430
5 BR$1,644Not available
6 BR$1,891Not available
7 BR$2,175Not available
8 BR$2,501Not available

Purchase Price Calculator

Maximum purchase price
$80,739

Cost breakdown

+Likely effective rent$960
HUD FMRUsed$960
Market rentN/A
Est. payment standardN/A
-Principal and interest-$408
Loan amount$64,591
Down payment$16,148
Rate6.50%
Term30 years
-Operating costs-$352
Property taxes-$81
Insurance-$175
Utilities$0
HOA$0
Management-$96
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,722(97.4% ROI)
Projected value
$86,947
Return breakdown
Property appreciation+$6,208
Loan principal paid down+$2,314
Rental cash flow+$7,200
5-year hold
+$26,737(165.6% ROI)
Projected value
$91,349
Return breakdown
Property appreciation+$10,610
Loan principal paid down+$4,127
Rental cash flow+$12,000
10-year hold
+$56,447(349.6% ROI)
Projected value
$103,353
Return breakdown
Property appreciation+$22,614
Loan principal paid down+$9,833
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 36047 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36047 (Letohatchee, AL) is $960 a month. That is up 6.7% from $900 in FY 2026. Letohatchee is in the Montgomery, AL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 32 ZIP codes in Elmore County, 36047 is tied for the 24th-highest two-bedroom rent (county range $920–$1,630). The median county two-bedroom FMR in Alabama is $975, so ZIP 36047 is 2% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 36047
BedroomsFY 2027Change90–110% range
Studio$820+17.1%$738–$902
1BR$840+12.0%$756–$924
2BR$960+6.7%$864–$1,056
3BR$1,240+9.7%$1,116–$1,364
4BR$1,4300.0%$1,287–$1,573

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 36047
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$820$840$960$1,240$1,430
FY 2026$700$750$900$1,130$1,430
FY 2025$760$830$990$1,250$1,580
FY 2024$720$780$940$1,190$1,500
FY 2023$620$710$850$1,070$1,380

Two-bedroom rent in nearby Elmore County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 36047
36036$1,120+16.7%
36037$970+1.0%
36039$1,060+10.4%
36042$950−1.0%
36043$1,080+12.5%
36046$1,030+7.3%
36047Current$960—
36048$920−4.2%
36051$1,130+17.7%
36052$1,300+35.4%
36053$1,100+14.6%
36054$1,130+17.7%

Questions about ZIP 36047 rents

How much will Section 8 pay for a two-bedroom in ZIP 36047?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $960, that basic range is $864 to $1,056 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 36047 in?

ZIP 36047 is in the Montgomery, AL MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 36047 for FY 2027?

The two-bedroom FMR rose 6.7%, from $900 in FY 2026 to $960 in FY 2027. Since FY 2023 it has risen 12.9%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentLetohatchee, AL fair market rentAL statewide rentsWhat is SAFMR?Data sources