Location: Adams County, IL | Metro: Adams County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
The Fair Market Rent (FMR) for ZIP code 62306 in Unknown, Illinois, for fiscal year 2026 is set at $1,060. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing voucher program. It is important to note that this does not necessarily reflect the actual rent you can charge your tenants; it is the maximum amount that HUD will pay on behalf of eligible low-income families.
Local market rents in ZIP 62306 are currently listed as N/A, which makes direct comparison difficult. However, the FMR can still be a useful benchmark for setting your own rental rates, ensuring they are competitive yet realistic for the area.
The percentage of residents who are renters in ZIP 62306 is also listed as N/A%. This metric would typically help gauge the potential demand for rental properties. With this information missing, landlords should rely on other sources to understand the local rental market dynamics and the interest in Section 8 rentals specifically.
The median home value in ZIP 62306 is N/A. While this data point is absent, it usually provides insight into the typical acquisition costs for real estate in the area. Without it, landlords must look at recent property sales or consult local real estate agents to get an accurate sense of what it might cost to buy a property suitable for a Section 8 tenant.
Before proceeding with a Section 8 rental, one crucial verification step is to ensure that the property meets all required standards for habitability and safety. HUD has specific guidelines that must be adhered to, and failing to meet these could result in penalties or disqualification from the program. Landlords should conduct a thorough inspection of the property and consider hiring a professional to assess compliance with these standards.
Data Sources: FMR data from HUD (2027).
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.