Location: Adams County, IL | Metro: Adams County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The ZIP code 62305, located within the Adams County, IL metro area, presents a unique profile when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 62305 stands at $1,180 for fiscal year 2026, which is notably higher than the average market rent of $926. This suggests that properties in 62305 are priced slightly above what the market typically bears, potentially indicating a more desirable location within the metro.
The median home value in 62305 is $253,365, which is consistent with the broader county average, suggesting that property prices in this ZIP do not significantly deviate from the county's overall trend. However, the renter share in 62305 is 15.3%, which is relatively low compared to other ZIP codes in the area. This lower percentage of renters might indicate a stronger preference for homeownership in 62305, possibly due to its slightly higher FMR and median home values.
When analyzing ZIP 62305 within the context of its metro, it does not fit neatly into the categories of a value pocket or a premium sub-market. Instead, it appears to be a mid-tier neighborhood, with rents and home values that are somewhat elevated but still in line with the county averages. The higher FMR relative to the market rent could suggest that landlords in 62305 have an opportunity to charge closer to the FMR without drastically exceeding the typical market rates, thus maximizing their income potential.
The lower renter share also implies that there may be fewer opportunities for rental investment compared to ZIP codes with higher percentages of renters. However, the combination of a slightly above-average FMR and a median home value that aligns with the county average can still present attractive prospects for landlords and small-portfolio investors seeking stable returns within a moderate price range.
In summary, ZIP 62305 represents a balanced option within the Adams County, IL metro. It offers landlords a chance to benefit from slightly elevated rents while maintaining a reasonable level of investment risk given its home values and renter demographics.
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.