Location: Macoupin County, IL | Metro: St. Louis, MO-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 | $880 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,420 | $281,547 | 0.5% | F |
| 4BR | $1,720 | $338,766 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 62021 is situated in a suburban area characterized by a relatively small population of 871 residents. Only 0.3% of these residents are renters, indicating that the majority of homes in this area are owner-occupied. The median household income stands at a robust $107,454, reflecting a community where financial stability is prevalent. Furthermore, the median home value in this ZIP code is $286,321, which suggests a modest yet comfortable living environment.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 62021 as of the fiscal year 2024 is set at $950. This figure is crucial for Section 8 landlords and small-portfolio investors as it represents the maximum rental amount allowed under the housing voucher program. However, due to the limited number of renters, specific market rent data is not available, making it challenging to compare FMR against actual market conditions. This scarcity of market data implies that the rental segment of the real estate market in ZIP 62021 is quite niche and possibly less competitive compared to areas with higher percentages of renters.
In evaluating whether ZIP 62021 suits a hands-off voucher operator or requires a hands-on approach for value-add opportunities, the low percentage of renters and the high median income suggest that hands-off management might be feasible. Landlords can expect stable tenants who are likely to appreciate the quality of the housing stock. However, the modest median home value indicates that there could still be room for value-add strategies, particularly if investors focus on improving properties to command rents closer to the FMR without overstepping the financial means of the local population. Overall, ZIP 62021 presents an opportunity for both hands-off and hands-on investors, depending on their willingness to engage in property improvements to maximize returns while adhering to the financial constraints of the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.