Location: Greene County, IL | Metro: Greene County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 62050 offers a straightforward financial framework for landlords and small-portfolio investors looking to enter the market. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950. This figure represents the payment standard, which is the amount the government will pay towards the rent of eligible tenants. It's important to note that this is not the total rent you can charge; it's the maximum subsidy payment.
While the local median rent for ZIP 62050 is currently listed as N/A, we can still analyze the potential demand for Section 8 rentals based on the national average of renters spending around 6.8% of their income on housing. This indicates that there could be a significant portion of the population in 62050 who would qualify for the Section 8 program, thereby creating a steady demand for affordable housing units.
Investors should also consider the acquisition cost of properties in this area. With the median home value also listed as N/A, it's advisable to conduct thorough research on recent property sales and comparable listings to determine a realistic price point for purchasing a rental unit.
To make an informed decision, verify the following before proceeding with your first Section 8 rental: the specific local policies and regulations regarding landlord participation in the Section 8 program. Each locality has its own rules and requirements, and understanding these will ensure compliance and smooth operation of your rental property.
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.