Location: Adams County, IL | Metro: Adams County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
ZIP code 62301, located in Quincy, IL within the Adams County metro area, presents a unique snapshot when compared to typical ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 62301 is set at $1,050 for fiscal year 2026, closely aligning with the market rent figure of $1,030. This indicates that the rental prices in 62301 are reflective of the broader county's standards, suggesting a mid-tier neighborhood status.
The median home value in 62301 stands at $136,374, which is notably lower than the average home value across the entire metro area. This discrepancy between relatively stable rental prices and below-average home values could signal an opportunity for landlords and small-portfolio investors. Lower property values can mean lower acquisition costs, while stable rents ensure steady income streams.
A significant point of interest is the 41.1% renter share in 62301. This figure is higher than the typical renter share in Adams County, IL ZIP codes. A high proportion of renters combined with lower home values often points to a concentration of tenants who rely on government assistance programs such as Section 8. This makes ZIP 62301 potentially attractive for those interested in Section 8 properties, as it suggests a strong demand for affordable housing options.
In summary, ZIP 62301 appears to be a value pocket within the Adams County, IL metro. It offers stable rental income with the potential for lower investment costs due to its below-average home values. The high renter share further supports this classification, indicating a robust market for subsidized housing. For investors looking to enter or expand their presence in the Quincy area, 62301 represents a strategic location with favorable conditions.
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.