Location: Macoupin County, IL | Metro: Macoupin County, IL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $191,371 | 0.71% | D |
U.S. Census Bureau data (2024)
The ZIP code 62014 is situated in a suburban neighborhood characterized by a relatively small population of 3,669 residents. The area has a low percentage of renters at only 17.0%, indicating a primarily owner-occupied community. Median household income stands at $93,233, which is notably higher than the national average, suggesting a middle to upper-middle-class demographic. The median home value in the area is $171,338, reflecting a mix of affordable and moderately priced housing options.
Moving into the economic analysis of rental properties, the Fair Market Rent (FMR) for ZIP 62014 in fiscal year 2024 is set at $1010. This figure is slightly above the current market rent of $918 as reported by the Census Bureau's American Community Survey (ACS). This discrepancy indicates a potential opportunity for landlords who can manage properties efficiently to capture the higher FMR rates through Section 8 vouchers.
Given these parameters, ZIP 62014 could be an attractive location for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area offers a stable environment with a reasonable demand for subsidized housing, allowing them to collect steady rental income without extensive property management. On the other hand, for hands-on investors looking to add value, there is room to improve properties and charge closer to the FMR rate, thus increasing profitability. However, the relatively low renter population suggests that competition for tenants might be limited, making it crucial for investors to understand the local market dynamics thoroughly.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.