Location: Montgomery County, IL | Metro: Montgomery County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 62076 presents several challenges for potential Section 8 landlords. First, tenant turnover could be problematic due to the discrepancy between market rent and the Fair Market Rent (FMR) of $1,030 set for FY 2026 in the metro area. Landlords should expect that tenants might seek housing closer to the actual market rate, leading to higher churn rates.
Vacancy exposure is another significant concern. With an unknown average number of days on the market (DOM), it's difficult to predict how long properties might remain vacant. This uncertainty can lead to financial strain as landlords must cover mortgage payments and other expenses without rental income.
Deferred maintenance is also a risk factor. The typical home value in the area is not specified, but the median household income of $46,250 suggests that many residents might struggle to afford substantial repairs or improvements. This could translate into landlords having to shoulder unexpected costs for maintaining their properties in good condition.
However, these risks are somewhat mitigated by the fact that 2.2% of renters in the area rely on housing vouchers. This indicates a relatively high concentration of voucher holders, which typically translates to a higher demand for Section 8 properties. Despite the financial constraints faced by many residents, there is a steady pool of tenants who can meet the requirements of the program and provide consistent rental income.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.