Location: Fayette County, IL | Metro: Fayette County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The ZIP code 62011, with a population of 227, has an extremely low percentage of renters at 0.0%. This indicates that the area is predominantly homeowner-dominated, which means that the demand for housing vouchers, such as those provided through Section 8, is likely to be scarce.
The median household income in this ZIP code is $49,821. However, there is no specific data on market rents available for ZIP 62011, making it impossible to calculate the exact percentage of local income that goes towards typical rent. Nonetheless, we can compare the median income to the Fair Market Rent (FMR), which is set at $960 for the fiscal year 2026 in the metropolitan area.
If we assume that the FMR accurately reflects the rental market in ZIP 62011, then the average rent would consume approximately 20% of the median household income. This calculation is derived from the following: $960 annual rent per month divided by $49,821 annual income, multiplied by 12 months and 100 to convert to a percentage. The result is roughly 20%, indicating that rent is relatively affordable compared to the income levels in this area.
The tenant profile a landlord in ZIP 62011 should expect is one where the majority of potential tenants are unlikely to rely heavily on Section 8 vouchers due to the scarcity of rental properties and the relatively high median income. Landlords might find that their tenants are more likely to be individuals or families who can afford market-rate rents without assistance, or those who have other forms of financial support or income stability.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.