Location: Macoupin County, IL | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The rent math in ZIP 62079 does not work favorably due to the lack of available market rent data. The Fair Market Rent (FMR) set at $900 for the fiscal year 2024 is the benchmark for rental income, but without specific market rent figures, it's challenging to assess whether this aligns with what tenants can afford.
Regarding property acquisition, affordability is unclear given that the median home value, days on market (DOM), and percentage of price cuts are all listed as N/A. This absence of data makes it difficult to provide an accurate analysis of how easy or difficult it might be to acquire properties in this area.
Tenant demand is modest in ZIP 62079. With a total population of 292, only 13.6% of residents are renters. This indicates a limited pool of potential tenants, which could affect occupancy rates and the ability to fill vacancies quickly.
In summary, while the FMR of $900 provides a clear target for rental income, the lack of detailed market data on median home values, DOM, and price cut percentages hinders a comprehensive assessment of acquisition costs and tenant demand. Landlords and small-portfolio investors should proceed with caution, focusing on securing reliable tenant demand in a small market with limited flexibility on pricing and acquisition terms.
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.