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Montgomery County/Montgomery/36116

36116

ZIPSAFMR
Montgomery County, AL
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$980$910
1 BR$990$840
2 BR$1,140$1,070
3 BR$1,460$1,380
4 BR$1,690$1,740
5 BR$1,943Not available
6 BR$2,235Not available
7 BR$2,570Not available
8 BR$2,956Not available

Purchase Price Calculator

Maximum purchase price
$97,085

Cost breakdown

+Likely effective rent$1,070
HUD FMR$1,140
Market rentUsed$1,070
Est. payment standard (96%)$1,090
-Principal and interest-$491
Loan amount$77,668
Down payment$19,417
Rate6.50%
Term30 years
-Operating costs-$379
Property taxes-$97
Insurance-$175
Utilities$0
HOA$0
Management-$107
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,448(89.9% ROI)
Projected value
$104,550
Return breakdown
Property appreciation+$7,465
Loan principal paid down+$2,783
Rental cash flow+$7,200
5-year hold
+$29,720(153.1% ROI)
Projected value
$109,843
Return breakdown
Property appreciation+$12,758
Loan principal paid down+$4,962
Rental cash flow+$12,000
10-year hold
+$63,016(324.5% ROI)
Projected value
$124,277
Return breakdown
Property appreciation+$27,192
Loan principal paid down+$11,824
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.08
1 BR
1.18
2 BR
1.07
3 BR
1.06
4 BR
0.96
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 36116 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36116 (Montgomery, AL) is $1,140 a month. That is up 9.6% from $1,040 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, 36116 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 36116 is 17% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 36116
BedroomsFY 2027Change90–110% range
Studio$980+11.4%$882–$1,078
1BR$990+11.2%$891–$1,089
2BR$1,140+9.6%$1,026–$1,254
3BR$1,460+9.0%$1,314–$1,606
4BR$1,690+7.6%$1,521–$1,859

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 36116
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$980$990$1,140$1,460$1,690
FY 2026$880$890$1,040$1,340$1,570
FY 2025$840$880$1,050$1,340$1,660
FY 2024$830$910$1,090$1,380$1,750
FY 2023$730$830$990$1,260$1,620

Two-bedroom rent in nearby Montgomery County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 36116
36109$1,180+3.5%
36110$1,060−7.0%
36111$1,120−1.8%
36112$1,200+5.3%
36113$1,730+51.8%
36114$1,1400.0%
36115$1,520+33.3%
36116Current$1,140—
36117$1,290+13.2%
36119$1,1400.0%
36120$1,1400.0%
36121$1,1400.0%

Questions about ZIP 36116 rents

How much will Section 8 pay for a two-bedroom in ZIP 36116?

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 36116 in?

ZIP 36116 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 36116 for FY 2027?

The two-bedroom FMR rose 9.6%, from $1,040 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 15.2%.

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