36849

ZIPSAFMR

Lee County, AL

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$940	$1,030	4.7%
1 BR	$1,240	$1,270	10.1%
2 BR	$1,360	$1,500	6.1%
3 BR	$1,640	$1,800	2.1%
4 BR	$1,900	$2,090	4.4%
5 BR	$2,185	Not available	4.4%
6 BR	$2,513	Not available	4.4%
7 BR	$2,890	Not available	4.4%
8 BR	$3,323	Not available	4.4%

Purchase Price Calculator

Maximum purchase price

$160,983

Cost breakdown

+Likely effective rent$1,500

HUD FMR$1,360

Market rent$1,580

Est. payment standard (110%)Used$1,500

-Principal and interest-$814

Loan amount$128,786

Down payment$32,197

Rate6.50%

Term30 years

-Operating costs-$486

Property taxes-$161

Insurance-$175

Utilities$0

HOA$0

Management-$150

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$24,192(75.1% ROI)

Projected value

$173,361

Return breakdown

Property appreciation+$12,378

Loan principal paid down+$4,614

Rental cash flow+$7,200

5-year hold

+$41,383(128.5% ROI)

Projected value

$182,137

Return breakdown

Property appreciation+$21,154

Loan principal paid down+$8,228

Rental cash flow+$12,000

10-year hold

+$88,695(275.5% ROI)

Projected value

$206,072

Return breakdown

Property appreciation+$45,089

Loan principal paid down+$19,606

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.67ratio

FMR$940

Market$1,400

vs market-$460

FMR is below market; voucher rent may lag private rents.

0.67

1 BR

0.97ratio

FMR$1,240

Market$1,280

vs market-$40

FMR is near market; voucher and private rents are aligned.

0.97

2 BR

0.86ratio

FMR$1,360

Market$1,580

vs market-$220

FMR is below market; voucher rent may lag private rents.

0.86

3 BR

0.76ratio

FMR$1,640

Market$2,150

vs market-$510

FMR is below market; voucher rent may lag private rents.

0.76

4 BR

0.57ratio

FMR$1,900

Market$3,310

vs market-$1,410

FMR is below market; voucher rent may lag private rents.

0.57

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: --

ZIP 36849 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36849 (Auburn University, AL) is $1,360 a month. That is up 7.1% from $1,270 in FY 2026. Auburn University is in the Auburn-Opelika, AL HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,277. Among 20 ZIP codes in Lee County, 36849 has the 3rd-highest two-bedroom rent (county range $1,000–$1,450). The median county two-bedroom FMR in Alabama is $975, so ZIP 36849 is 39% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 36849
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$910	$940	+3.3%	$846–$1,034
1BR	$1,160	$1,240	+6.9%	$1,116–$1,364
2BR	$1,270	$1,360	+7.1%	$1,224–$1,496
3BR	$1,610	$1,640	+1.9%	$1,476–$1,804
4BR	$1,820	$1,900	+4.4%	$1,710–$2,090

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 36849
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$940	$1,240	$1,360	$1,640	$1,900
FY 2026	$910	$1,160	$1,270	$1,610	$1,820
FY 2025	$870	$1,040	$1,210	$1,570	$1,680
FY 2024	$820	$930	$1,140	$1,540	$1,670
FY 2023	$720	$770	$990	$1,320	$1,390

Two-bedroom rent in nearby Lee County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 36849
36830	$1,450	+6.6%
36831	$1,280	−5.9%
36832	$1,290	−5.1%
36849Current	$1,360	—
36850	$1,070	−21.3%
36852	$1,200	−11.8%
36853	$1,250	−8.1%
36854	$1,280	−5.9%
36860	$1,000	−26.5%
36865	$1,290	−5.1%
36866	$1,070	−21.3%
36867	$1,150	−15.4%

Questions about ZIP 36849 rents

How much will Section 8 pay for a two-bedroom in ZIP 36849?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,277, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,149 to $1,405 a month; under the ZIP-level Small Area FMR of $1,360 it would be $1,224 to $1,496. 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 36849 in?

ZIP 36849 is in the Auburn-Opelika, AL HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,277.

How much did fair market rent change in ZIP 36849 for FY 2027?

The two-bedroom FMR rose 7.1%, from $1,270 in FY 2026 to $1,360 in FY 2027. Since FY 2023 it has risen 37.4%.

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

County fair market rent Auburn University, AL fair market rent AL statewide rents What is SAFMR?Data sources