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Mobile County/Wilmer/36587

36587

ZIPSAFMR
Mobile County, AL
Zillow

ZIP Investment Score

144High yield potential

095130300
BRFMR
Eff. Rent
0 BR$920$1,010
1 BR$960$1,060
2 BR$1,120$1,230
3 BR$1,450$1,590
4 BR$1,540$1,690
5 BR$1,771Not available
6 BR$2,037Not available
7 BR$2,342Not available
8 BR$2,693Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMR$1,120
Market rent$1,610
Est. payment standard (110%)Used$1,230
-Principal and interest-$611
Loan amount$96,689
Down payment$24,172
Rate6.50%
Term30 years
-Operating costs-$419
Property taxes-$121
Insurance-$175
Utilities$0
HOA$0
Management-$123
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,957(82.6% ROI)
Projected value
$130,154
Return breakdown
Property appreciation+$9,293
Loan principal paid down+$3,464
Rental cash flow+$7,200
5-year hold
+$34,060(140.9% ROI)
Projected value
$136,743
Return breakdown
Property appreciation+$15,882
Loan principal paid down+$6,177
Rental cash flow+$12,000
10-year hold
+$72,571(300.2% ROI)
Projected value
$154,712
Return breakdown
Property appreciation+$33,851
Loan principal paid down+$14,720
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.62
1 BR
0.63
2 BR
0.70
3 BR
0.87
4 BR
0.82
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 36587 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36587 (Wilmer, AL) is $1,120 a month. That is up 13.1% from $990 in FY 2026. Wilmer is in the Mobile, AL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 45 ZIP codes in Mobile County, 36587 has the 30th-highest two-bedroom rent (county range $920–$1,710). The median county two-bedroom FMR in Alabama is $975, so ZIP 36587 is 15% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 36587
BedroomsFY 2027Change90–110% range
Studio$920+17.9%$828–$1,012
1BR$960+14.3%$864–$1,056
2BR$1,120+13.1%$1,008–$1,232
3BR$1,450+12.4%$1,305–$1,595
4BR$1,540+16.7%$1,386–$1,694

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 36587
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$920$960$1,120$1,450$1,540
FY 2026$780$840$990$1,290$1,320
FY 2025$730$820$990$1,310$1,340
FY 2024$720$790$970$1,280$1,320
FY 2023$730$780$970$1,300$1,380

Two-bedroom rent in nearby Mobile County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 36587
36568$1,000−10.7%
36571$1,140+1.8%
36572$1,380+23.2%
36575$1,210+8.0%
36582$1,000−10.7%
36587Current$1,120—
36590$1,140+1.8%
36601$1,140+1.8%
36602$1,130+0.9%
36603$920−17.9%
36604$990−11.6%
36605$1,160+3.6%

Questions about ZIP 36587 rents

How much will Section 8 pay for a two-bedroom in ZIP 36587?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,120, that basic range is $1,008 to $1,232 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 36587 in?

ZIP 36587 is in the Mobile, 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 36587 for FY 2027?

The two-bedroom FMR rose 13.1%, from $990 in FY 2026 to $1,120 in FY 2027. Since FY 2023 it has risen 15.5%.

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