For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36115 (Montgomery, AL) is $1,520 a month. That is up 7.8% from $1,410 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, 36115 has the 3rd-highest two-bedroom rent (county range $920–$1,730). The median county two-bedroom FMR in Alabama is $975, so ZIP 36115 is 56% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 36115
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,190
$1,300
+9.2%
$1,170–$1,430
1BR
$1,210
$1,330
+9.9%
$1,197–$1,463
2BR
$1,410
$1,520
+7.8%
$1,368–$1,672
3BR
$1,810
$1,950
+7.7%
$1,755–$2,145
4BR
$2,150
$2,260
+5.1%
$2,034–$2,486
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 36115
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,300
$1,330
$1,520
$1,950
$2,260
FY 2026
$1,190
$1,210
$1,410
$1,810
$2,150
FY 2025
$1,210
$1,270
$1,510
$1,930
$2,380
FY 2024
$1,250
$1,360
$1,630
$2,060
$2,620
FY 2023
$1,080
$1,230
$1,470
$1,870
$2,400
Two-bedroom rent in nearby Montgomery County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 36115?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,520, that basic range is $1,368 to $1,672 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 36115 in?
ZIP 36115 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 36115 for FY 2027?
The two-bedroom FMR rose 7.8%, from $1,410 in FY 2026 to $1,520 in FY 2027. Since FY 2023 it has risen 3.4%.
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