Location: Pike County, IL | Metro: Adams County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $92,107 | 1.04% | B |
| 3BR | $1,200 | $129,460 | 0.93% | C |
U.S. Census Bureau data (2024)
920 is the Fair Market Rent (FMR) for ZIP code 62312 in the metro area for fiscal year 2026, indicating the maximum amount that a Section 8 voucher holder can pay for housing. 655 is the average market rent reported by the Census Bureau's American Community Survey, suggesting that properties priced at or below this amount could attract non-voucher tenants. 109,190 represents the median home value in this ZIP code, which is significantly higher than the average market rent, making it an attractive area for rental investments. 26.6% is the proportion of residents who are renters, highlighting a substantial demand for rental properties in the area. 68,571 is the median income level, which is relatively low compared to the median home value, making affordable rentals a necessity for many residents. The data shows that there is no information available on the days on market (DOM) or the percentage of price-cut shares, which could indicate a stable rental market without significant fluctuations in pricing or availability. Given the disparity between the FMR and the median home value, landlords and small-portfolio investors should consider the potential for Section 8 tenants to fill vacancies in properties that might otherwise struggle to find occupants willing to pay the full market rent. In conclusion, 62312 presents a viable opportunity for Section 8 participation due to the alignment of FMR with market conditions and the high renter share.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.