FMR is near market; voucher and private rents are aligned.
0.93
1 BR
1 BR
0.97ratio
FMR$930
Market$960
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.97
2 BR
2 BR
1.02ratio
FMR$1,070
Market$1,050
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.02
3 BR
3 BR
1.08ratio
FMR$1,420
Market$1,320
vs market+$100
FMR is near market; voucher and private rents are aligned.
1.08
4 BR
4 BR
0.85ratio
FMR$1,660
Market$1,950
vs market-$290
FMR is below market; voucher rent may lag private rents.
0.85
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 36868 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 36868 (Phenix City, AL) is $1,070 a month. That is up 7.0% from $1,000 in FY 2026. Phenix City is in the Columbus, GA-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 $1,212. Among 6 ZIP codes in Russell County, 36868 is tied for the 2nd-highest two-bedroom rent (county range $1,000–$1,780). The median county two-bedroom FMR in Alabama is $975, so ZIP 36868 is 10% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 36868
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$800
$910
+13.8%
$819–$1,001
1BR
$850
$930
+9.4%
$837–$1,023
2BR
$1,000
$1,070
+7.0%
$963–$1,177
3BR
$1,320
$1,420
+7.6%
$1,278–$1,562
4BR
$1,610
$1,660
+3.1%
$1,494–$1,826
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 36868
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$910
$930
$1,070
$1,420
$1,660
FY 2026
$800
$850
$1,000
$1,320
$1,610
FY 2025
$800
$850
$1,000
$1,320
$1,610
FY 2024
$750
$790
$930
$1,240
$1,570
FY 2023
$700
$750
$870
$1,170
$1,480
Two-bedroom rent in nearby Russell County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 36868?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,212, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,091 to $1,333 a month; under the ZIP-level Small Area FMR of $1,070 it would be $963 to $1,177. 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 36868 in?
ZIP 36868 is in the Columbus, GA-AL HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,212.
How much did fair market rent change in ZIP 36868 for FY 2027?
The two-bedroom FMR rose 7.0%, from $1,000 in FY 2026 to $1,070 in FY 2027. Since FY 2023 it has risen 23.0%.
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