FY2026 Fair Market Rents — Covington County
Studio
$576
1BR
$591
2BR
$776
3BR
$999
4BR
$1,302
Covington County, Alabama
FIPS 01039 · County-level FMR and income limit data
FMR Area: Covington County, AL
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $576 | $6,912 |
| 1-Bedroom | $591 | $7,092 |
| 2-Bedroom | $776 | $9,312 |
| 3-Bedroom | $999 | $11,988 |
| 4-Bedroom | $1,302 | $15,624 |
To afford the FY2026 2-bedroom FMR of $776/mo under the 30%-of-income rule, a household needs about
$31,040/yr ($2,587/mo). Area Median Income is $73,900.
At AL's federal minimum wage of $7.25/hr, a worker would need to work 83 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $576 | $591 | $776 | $999 | $1,302 |
| FY2025 | $584 | $587 | $772 | $1,020 | $1,285 |
| FY2024 | $648 | $652 | $857 | $1,133 | $1,427 |
| FY2023 | $558 | $562 | $740 | $986 | $1,214 |
| FY2022 | $530 | $536 | $705 | $929 | $1,145 |
| FY2021 | $479 | $499 | $634 | $846 | $1,044 |
| FY2020 | $474 | $489 | $612 | $818 | $1,019 |
FY2026 Income Limits
Area Median Income: $73,900
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $15,960 | $21,640 | $27,320 | $33,000 | $38,680 | $43,050 |
| 50% AMI | $26,000 | $29,700 | $33,400 | $37,100 | $40,100 | $43,050 |
| 80% AMI | $41,550 | $47,500 | $53,450 | $59,350 | $64,100 | $68,850 |