Section 8 Fair Market Rent (FMR) for ZIP 62044 - 2027

Location: Greene County, IL | Metro: Macoupin County, IL HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$810
2 Bedrooms	$1,060
3 Bedrooms	$1,310
4 Bedrooms	$1,640
5 Bedrooms	$1,902
6 Bedrooms	$2,130
7 Bedrooms	$2,300
8 Bedrooms	$2,415

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,852

Median Household Income

$71,146

Housing Units

787

Renter Percentage

27.5%

Occupancy Rate

79.9%

Renter Occupied

173

The ZIP code 62044, located in Southern Illinois, offers a stable real estate market with opportunities for both landlords and small-portfolio investors. The area benefits from a mix of residential properties and a growing local economy, which supports steady demand for rental housing.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 62044 for fiscal year 2024 is set at $890.
The average market rent for a similar unit, according to the latest Census American Community Survey (ACS), is $869.
The median home value in the area stands at $120,772, providing a relatively low barrier to entry for investors.
Renters make up 27.5% of the population, indicating a significant portion of the community relies on rental housing.
The median household income in ZIP 62044 is $71,146, offering a moderate financial base for tenants to support their rental payments.

Investors looking to enter the market in ZIP 62044 can expect a modest yet consistent return on investment. With the Fair Market Rent slightly above the market rent, there is potential for rental price increases. The median home value suggests that property acquisition costs are manageable, while the renter share indicates ongoing demand for rental units. The median income level provides a reasonable assurance of tenant stability and ability to pay rent. Overall, the area presents a balanced opportunity for generating rental income without the volatility seen in more dynamic markets.

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.