Location: Greene County, IL | Metro: Greene County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,270 |
| 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)
4.5% of the residents in ZIP code 62098 are renters, aligning closely with national trends where approximately 36% of households rent their homes. This suggests a balanced market where both homeowners and renters coexist, but it also means that rental properties must compete effectively against homeownership options.
N/A data on market rent indicates incomplete information regarding the average cost of renting in this area, which could be due to various factors such as limited rental listings or a predominantly homeowner-focused community. However, the $1,030 Fair Market Rent (FMR) set for metro areas in fiscal year 2026 provides a benchmark for what the government considers a reasonable rent for a two-bedroom apartment, underlining the potential rental value in this region.
The lack of data on median home value and median income in ZIP 62098 makes it challenging to fully assess the economic landscape. Nonetheless, the absence of high-priced homes and luxury rentals, as implied by the N/A figures, points towards a more modest living environment where affordability is key.
Average days on market (DOM) being N/A suggests that either the data is not available or there's a steady flow of property sales without significant periods of unsold inventory. This could indicate a healthy local real estate market, though further investigation would be needed to confirm this hypothesis.
The N/A percentage for price-cut share implies that sellers in this area may not frequently need to reduce their asking prices to make a sale, which is another positive sign for the real estate market. It suggests that properties are generally valued correctly upon listing, reducing the risk of overpricing for new listings.
Given the specific data available, particularly the $1,030 FMR, landlords and small-portfolio investors should consider this figure when setting rents for Section 8 eligible units. The low percentage of renters and limited data on market conditions suggest a niche market that requires careful targeting and possibly a focus on quality and amenities to attract tenants.
Section 8 verdict: Attractive opportunity with a defined FMR but requires a strategic approach given limited market data.
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.