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Elmore County/Midway/36053

36053

ZIPSAFMR
Elmore County, AL
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$860$860
1 BR$1,010$1,010
2 BR$1,100$1,100
3 BR$1,360$1,360
4 BR$1,600$1,600
5 BR$1,840Not available
6 BR$2,116Not available
7 BR$2,433Not available
8 BR$2,798Not available

Purchase Price Calculator

Maximum purchase price
$101,543

Cost breakdown

+Likely effective rent$1,100
HUD FMRUsed$1,100
Market rentN/A
Est. payment standardN/A
-Principal and interest-$513
Loan amount$81,234
Down payment$20,309
Rate6.50%
Term30 years
-Operating costs-$387
Property taxes-$102
Insurance-$175
Utilities$0
HOA$0
Management-$110
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,918(88.2% ROI)
Projected value
$109,351
Return breakdown
Property appreciation+$7,808
Loan principal paid down+$2,910
Rental cash flow+$7,200
5-year hold
+$30,534(150.3% ROI)
Projected value
$114,887
Return breakdown
Property appreciation+$13,344
Loan principal paid down+$5,190
Rental cash flow+$12,000
10-year hold
+$64,808(319.1% ROI)
Projected value
$129,984
Return breakdown
Property appreciation+$28,441
Loan principal paid down+$12,367
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
--
Mortgage rate
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ZIP 36053 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36053 (Midway, AL) is $1,100 a month. That is up 10.0% from $1,000 in FY 2026. Midway 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, 36053 has the 11th-highest two-bedroom rent (county range $920–$1,630). The median county two-bedroom FMR in Alabama is $975, so ZIP 36053 is 13% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 36053
BedroomsFY 2027Change90–110% range
Studio$860+7.5%$774–$946
1BR$1,010+14.8%$909–$1,111
2BR$1,100+10.0%$990–$1,210
3BR$1,360+3.0%$1,224–$1,496
4BR$1,600−0.6%$1,440–$1,760

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 36053
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$860$1,010$1,100$1,360$1,600
FY 2026$800$880$1,000$1,320$1,610
FY 2025$750$810$930$1,240$1,570
FY 2024$750$790$930$1,240$1,570
FY 2023$700$750$870$1,170$1,480

Two-bedroom rent in nearby Elmore County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 36053
36039$1,060−3.6%
36042$950−13.6%
36043$1,080−1.8%
36046$1,030−6.4%
36047$960−12.7%
36048$920−16.4%
36051$1,130+2.7%
36052$1,300+18.2%
36053Current$1,100—
36054$1,130+2.7%
36064$1,630+48.2%
36066$1,410+28.2%

Questions about ZIP 36053 rents

How much will Section 8 pay for a two-bedroom in ZIP 36053?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,100, that basic range is $990 to $1,210 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 36053 in?

ZIP 36053 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 36053 for FY 2027?

The two-bedroom FMR rose 10.0%, from $1,000 in FY 2026 to $1,100 in FY 2027. Since FY 2023 it has risen 26.4%.

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