Location: Washington 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 | $750 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $142,965 | 0.87% | C |
U.S. Census Bureau data (2024)
ZIP code 62257, located within the Washington County, IL metro, presents a unique set of characteristics that position it distinctly among other ZIP codes in the area. The Fair Market Rent (FMR) for ZIP 62257 in fiscal year 2024 is set at $900. This figure is notably higher than the average market rent of $713, indicating that properties in this ZIP may be priced above what the market typically offers.
The median home value in ZIP 62257 is $108,766, which is relatively modest compared to other areas within the county. This suggests that while rental prices might be elevated due to the FMR standards, the cost of property ownership remains accessible. The renter share in ZIP 62257 stands at 19.0%, a percentage that aligns with the broader trends seen in Washington County.
Given the data, ZIP 62257 can be classified as a mid-tier neighborhood within the Washington County, IL metro. It is not a premium sub-market, as indicated by its lower home values compared to some other ZIP codes in the area. However, it also doesn't fit the profile of a value pocket, as the market rent is significantly lower than the FMR, suggesting a potential premium on rental units due to government subsidies.
A key point of interest is the divergence between the high FMR and the lower market rent, alongside the moderate home values and renter share. This combination often points to an area where there is a notable presence of subsidized housing, such as Section 8 vouchers. Landlords and small-portfolio investors should take note of this dynamic as it could influence the demand for rental properties and the potential for stable long-term tenancy.
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.