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Montgomery County/Montgomery/36104

36104

ZIPSAFMR
Montgomery County, AL
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$790$720
1 BR$800$770
2 BR$920$920
3 BR$1,180$1,200
4 BR$1,370$1,320
5 BR$1,575Not available
6 BR$1,812Not available
7 BR$2,084Not available
8 BR$2,396Not available

Purchase Price Calculator

Maximum purchase price
$74,795

Cost breakdown

+Likely effective rent$920
HUD FMR$920
Market rent$920
Est. payment standard (100%)Used$920
-Principal and interest-$378
Loan amount$59,836
Down payment$14,959
Rate6.50%
Term30 years
-Operating costs-$342
Property taxes-$75
Insurance-$175
Utilities$0
HOA$0
Management-$92
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,095(100.9% ROI)
Projected value
$80,546
Return breakdown
Property appreciation+$5,751
Loan principal paid down+$2,144
Rental cash flow+$7,200
5-year hold
+$25,652(171.5% ROI)
Projected value
$84,624
Return breakdown
Property appreciation+$9,829
Loan principal paid down+$3,823
Rental cash flow+$12,000
10-year hold
+$54,058(361.4% ROI)
Projected value
$95,744
Return breakdown
Property appreciation+$20,949
Loan principal paid down+$9,109
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.10
1 BR
1.04
2 BR
1.00
3 BR
0.98
4 BR
1.04
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 36104 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36104 (Montgomery, AL) is $920 a month. That is up 2.2% from $900 in FY 2026. Montgomery is in the Montgomery, AL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 27 ZIP codes in Montgomery County, 36104 is tied for the 26th-highest two-bedroom rent (county range $920–$1,730). The median county two-bedroom FMR in Alabama is $975, so ZIP 36104 is 6% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 36104
BedroomsFY 2027Change90–110% range
Studio$790+14.5%$711–$869
1BR$800+6.7%$720–$880
2BR$920+2.2%$828–$1,012
3BR$1,180+4.4%$1,062–$1,298
4BR$1,370−4.2%$1,233–$1,507

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 36104
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$790$800$920$1,180$1,370
FY 2026$690$750$900$1,130$1,430
FY 2025$760$830$990$1,250$1,580
FY 2024$670$740$880$1,120$1,440
FY 2023$590$690$830$1,050$1,350

Two-bedroom rent in nearby Montgomery County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 36104
36101$930+1.1%
36102$1,140+23.9%
36103$1,140+23.9%
36104Current$920—
36105$1,010+9.8%
36106$1,220+32.6%
36107$970+5.4%
36108$9200.0%
36109$1,180+28.3%
36110$1,060+15.2%
36111$1,120+21.7%
36112$1,200+30.4%

Questions about ZIP 36104 rents

How much will Section 8 pay for a two-bedroom in ZIP 36104?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $920, that basic range is $828 to $1,012 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 36104 in?

ZIP 36104 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 36104 for FY 2027?

The two-bedroom FMR rose 2.2%, from $900 in FY 2026 to $920 in FY 2027. Since FY 2023 it has risen 10.8%.

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