Section 8 Fair Market Rent (FMR) for ZIP 62285 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 62285

• St. Clair County Housing Authority (Belleville, IL) - 2,695 Section 8 vouchers
• The Housing Authority of City of East St. Louis (East Saint Louis, IL)

The ZIP code 62285, located in Illinois, offers a stable and growing market for real estate investors interested in both rental properties and single-family homes. This suburban area benefits from a strong local economy, characterized by a high median income, which supports a robust housing demand. The following analysis provides key metrics that inform investment decisions in this region.

• The Fair Market Rent (FMR) for ZIP 62285 in fiscal year 2024 is set at $980, indicating the government's benchmark for affordability and the potential rental income for properties in this area.
• The average market rent, according to the latest Census American Community Survey (ACS), stands at $865. This figure reflects the actual rental rates landlords can expect to achieve for their properties.
• The median home value in ZIP 62285 is $305,718, providing a baseline for property acquisition costs and potential resale values.
• Renters make up 5.5% of the total population, suggesting a smaller but still significant market for rental properties.
• The median income in this ZIP code is $136,345, which is considerably higher than the national average, implying a strong financial capability among residents to support higher rents and home values.
• The Days on Market (DOM) for rental properties is listed as N/A, indicating either a very efficient rental market or insufficient data to provide a meaningful average.

Synthesizing these points, ZIP 62285 presents a favorable environment for real estate investment, particularly for those looking to capitalize on the gap between the Fair Market Rent and the actual market rent. With a median income significantly above the national average, there is a solid economic foundation supporting property values and rental rates. However, the relatively low renter share suggests that the primary focus should be on areas with a higher concentration of renters or on converting owner-occupied units to rentals. The lack of specific DOM data does not detract from the overall positive outlook, as the other indicators suggest a steady and potentially growing demand for rental properties in this ZIP code.

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.