Location: Washington County, IL | Metro: Perry County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The ZIP code 62237 stands out in XX County due to its unique demographic and economic characteristics. With a population of 2,367 residents, only 10.8% of whom rent their homes, it indicates a predominantly owner-occupied area. The median income here is $55,208, reflecting a middle-class community. Despite this, the median home value is notably higher at $144,936, suggesting that homeownership is relatively expensive compared to the average income.
When it comes to voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,010. However, the actual market rent, according to the Census ACS, is $825. This discrepancy means that landlords accepting Section 8 vouchers can expect to receive a subsidy that exceeds the typical rental rate in the area. Consequently, this could make the ZIP code attractive to landlords looking to stabilize their tenant base with government-backed rental assistance.
The data signature for ZIP 62237 reads as stable. The relatively low percentage of renters combined with a higher median home value suggests a community where long-term homeownership is the norm. Additionally, the gap between the FMR and the market rent indicates a steady demand for rental properties among lower-income households, which can be reliably met through Section 8 vouchers. For small-portfolio investors, this stability offers a predictable income stream, making ZIP 62237 a viable investment opportunity in the real estate market of XX County.
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.