Location: Bond County, IL | Metro: St. Louis, MO-IL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $110,351 | 0.88% | C |
| 3BR | $1,260 | $186,090 | 0.68% | D |
| 4BR | $1,340 | $267,342 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 62246, located in Greenville, IL, within Bond County, stands out due to its unique demographic and economic characteristics. With a population of 10,077 residents, 27.0% of whom rent their homes, the area has a median household income of $66,970. The median home value in the ZIP is significantly higher at $170,304, reflecting a relatively stable housing market.
The voucher economics in ZIP 62246 are noteworthy. The Fair Market Rent (FMR) for the area, set at $900 for the fiscal year 2024, exceeds the market rent of $779 as reported by the Census Bureau's American Community Survey. This indicates that landlords participating in the Section 8 program can expect higher rental rates compared to the local market average, making it an attractive option for property owners looking to secure steady tenants.
Given the data signature of ZIP 62246, it appears to be a stable area. The relatively high median home value suggests a solid investment environment, while the modest percentage of renters and the higher FMR indicate that there is a demand for affordable housing options without significant volatility in the rental market. Landlords and small-portfolio investors should find the conditions favorable for long-term stability and predictable returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.