Location: Macoupin County, IL | Metro: Macoupin County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
The ZIP code 62023, located in Eagarville, Macoupin County, Illinois, should be considered a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 62023 in fiscal year 2024 is set at $930. While specific market data such as the median home value is currently unavailable, the fact that the median house value in the area is significantly below the state average suggests a stable and affordable housing market.
A cash-flow anchor is an investment property that provides consistent rental income, often through government programs like Section 8. ZIP 62023 fits this description because it offers a reliable tenant pool through the Section 8 program. Landlords can expect steady cash flow from tenants who have their rent subsidized to the level of $930, which is the FMR for the area. This ensures that the landlord receives the full amount of the subsidy, providing a predictable and stable income stream.
Furthermore, the median income in ZIP 62023 is $71,458, indicating a moderate economic environment where a significant portion of the population might benefit from the Section 8 program. The low renter share of 0.0% could imply that the majority of residents are homeowners, but this does not negate the utility of Section 8 properties as a cash-flow anchor. Homeowners often do not affect the demand for rental properties, especially those under government assistance programs.
In conclusion, ZIP 62023 serves best as a cash-flow anchor within a Section 8 portfolio strategy. It offers a predictable income source through the FMR subsidy and caters to a segment of the population that benefits from the affordability provided by the Section 8 program. Landlords and small-portfolio investors can rely on this ZIP code to provide consistent returns without the risks associated with appreciation plays or diversifiers.
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.