Location: Schuyler County, IL | Metro: Adams County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62311 in Schuyler County, IL reveals several key points regarding its viability for Section 8 real estate investments.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, while the current market rent based on Census ACS data is significantly lower at $617. This discrepancy suggests that landlords could potentially benefit from a higher rental income compared to the market average, aligning well with the FMR benchmark for Section 8 tenants.
Regarding the affordability of property acquisitions, the data presents some limitations. The median home value, days on market (DOM), and percentage of homes that have had their prices cut are all marked as N/A. Without these specific figures, it's challenging to make a precise assessment of how affordable property acquisition might be in this area. However, the lack of detailed data doesn't necessarily indicate poor affordability; it simply means that more research would be needed to understand the local real estate market dynamics.
The third point concerns tenant demand. With a population of 872 residents and a renter share of 14.6%, there is a modest but present demand for rental properties. While the number of potential renters is relatively small, the percentage indicates that a significant portion of the population is interested in renting, which can be beneficial for landlords looking to fill units.
Verdict: ZIP code 62311 offers a favorable rent-to-FMR ratio for Section 8 investments, with the potential for landlords to earn above-market rents. The limited data on property acquisition affordability suggests further investigation is required to determine the ease of purchasing investment properties. Tenant demand is moderate, driven by a substantial renter share of the local population. For small-portfolio investors and landlords seeking a niche market, this area presents opportunities, particularly in leveraging the higher FMR against current market rents to secure stable returns. However, due diligence on property costs and local market conditions is essential before making any investment decisions.
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.