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 | $800 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $830 | $338,635 | 0.25% | F |
| 2BR | $1,020 | $175,321 | 0.58% | F |
| 3BR | $1,310 | $261,226 | 0.5% | F |
| 4BR | $1,510 | $316,135 | 0.48% | F |
| 5BR | $1,752 | $424,682 | 0.41% | F |
U.S. Census Bureau data (2024)
Highland, IL, located in ZIP code 62249, stands out in Madison County with its unique demographic and economic characteristics. The area has a total population of 16,205 residents, with 19.3% of them renting their homes. The median household income is $90,424, reflecting a relatively affluent community. However, the median home value at $266,176 indicates that homeownership is also a significant aspect of the local economy.
The voucher economics in Highland provide a compelling case for landlords and small-portfolio investors. The Fair Market Rent (FMR) for a one-bedroom apartment in ZIP 62249 for fiscal year 2024 is set at $1040. This is notably higher than the market rent, which is reported at $858 according to the latest Census American Community Survey (ACS). This discrepancy suggests that landlords who accept Section 8 vouchers can benefit from higher rental rates compared to the average market price, making it an attractive option for property owners looking to maximize their returns.
The data signature for ZIP 62249 reads as stable. With a consistent median income and a slightly higher FMR compared to the market rate, the area presents a reliable investment environment. The relatively low percentage of renters indicates a strong preference for homeownership among the local population, which is further supported by the high median home value. This stability provides a solid foundation for landlords and investors to plan their strategies without the uncertainty associated with transitional markets.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.