Alabama
Covington County
ZIP 36421
37,647 residents12 permits TTM$50,886 median HHI10 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$142,500
ACS 5-Year
Cap rate proxy
6.2%
FMR × 0.65 ÷ Home Value
Rent-to-income
17.4%
HUD FMR ÷ ACS HHI
Net migration
+0.76%
IRS SOI
Permits (TTM)
12
Census BPS
Climate risk
82.4
FEMA NRI (0–100)
ZIP 36421
Median home value
$205,737
Gross yield
4.5%
Cap rate
4.3%
Rent gap
5.2%
Affordability
P/I: 4.0R/I: —
Section 8 detail
SAFMR: $776Rent: $736Gap: 5.4%
ZIP code breakdown10 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 36028 | $162,264 | $776 | 5.7% | 5.4% | 5.2% |
| 36038 | $142,500county est. | $776 | 6.5% | 6.2% | 5.2% |
| 36420 | $144,665 | $776 | 6.4% | 6.1% | 5.2% |
| 36421 | $205,737 | $776 | 4.5% | 4.3% | 5.2% |
| 36442 | $141,885 | $776 | 6.6% | 6.2% | 5.2% |
Ranked by composite score
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Demographics
Owner-occupied
75.7%
Census ACS
Vacancy rate
22.4%
Census ACS
Bachelor's degree +
17.2%
Census ACS
Rent burdened
36.7%
Census ACS (>30% income)
Median age
42.8
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026