Location: Montgomery County, IL | Metro: Montgomery County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,110 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62089 reveals several key points that are crucial for landlords and small-portfolio investors considering investment in this area.
The rent math does not work favorably here. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930. However, the actual market rent, according to Census ACS data, stands significantly lower at $593. This gap indicates that properties priced at FMR levels will likely struggle to attract tenants willing to pay such rates.
Regarding acquisition affordability, the data is limited. The median home value is listed as N/A, suggesting a lack of recent sales data which could be due to low turnover or a sparse housing market. Days on Market (DOM) and the percentage of homes that require price cuts are also marked as N/A, making it difficult to assess the typical challenges faced during property acquisition. These missing metrics indicate a need for further local research to understand the buying climate accurately.
Tenant demand is present but modest. With a total population of 487, the area has a renter share of 24.2%. This means approximately 118 residents are potential renters. While this number might support a small portfolio, the overall population size limits the scale of investment opportunities.
In summary, ZIP 62089 presents a scenario where the rent math is unfavorable due to the significant disparity between FMR and actual market rents. Acquisition costs are unclear without specific data on median home values and market dynamics, though the lack of recent sales suggests a potentially stable but slow-moving market. Tenant demand exists, but the small population size restricts the potential for large-scale rental investments. For those interested in a niche, low-density rental market, this ZIP code could offer opportunities, but they must be approached with caution given the financial realities highlighted above.
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.