FMR is near market; voucher and private rents are aligned.
1.05
1 BR
1 BR
1.08ratio
FMR$990
Market$920
vs market+$70
FMR is near market; voucher and private rents are aligned.
1.08
2 BR
2 BR
1.19ratio
FMR$1,140
Market$960
vs market+$180
FMR is above market; underwrite to market rent.
1.19
3 BR
3 BR
1.14ratio
FMR$1,460
Market$1,280
vs market+$180
FMR is above market; underwrite to market rent.
1.14
4 BR
4 BR
1.07ratio
FMR$1,690
Market$1,580
vs market+$110
FMR is near market; voucher and private rents are aligned.
1.07
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 36114 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36114 (Montgomery, AL) is $1,140 a month. That is up 12.9% from $1,010 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, 36114 is tied for the 9th-highest two-bedroom rent (county range $920–$1,730). The median county two-bedroom FMR in Alabama is $975, so ZIP 36114 is 17% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 36114
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$850
$980
+15.3%
$882–$1,078
1BR
$860
$990
+15.1%
$891–$1,089
2BR
$1,010
$1,140
+12.9%
$1,026–$1,254
3BR
$1,300
$1,460
+12.3%
$1,314–$1,606
4BR
$1,530
$1,690
+10.5%
$1,521–$1,859
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 36114
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$980
$990
$1,140
$1,460
$1,690
FY 2026
$850
$860
$1,010
$1,300
$1,530
FY 2025
$840
$880
$1,040
$1,330
$1,640
FY 2024
$830
$900
$1,080
$1,370
$1,730
FY 2023
$700
$800
$960
$1,220
$1,570
Two-bedroom rent in nearby Montgomery County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 36114?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,140, that basic range is $1,026 to $1,254 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 36114 in?
ZIP 36114 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 36114 for FY 2027?
The two-bedroom FMR rose 12.9%, from $1,010 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 18.8%.
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