Section 8 Fair Market Rent (FMR) for ZIP 62329 - 2027

FY 2027 Fair Market Rent Rates

To classify ZIP code 62329 in Unknown, IL, we need to consider the available data on yield and stability. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is $920. This figure represents the estimated fair market rent for a standard unit in the area, which can be used as a benchmark for rental pricing.

The lack of specific market rent and home value data for ZIP 62329 makes it challenging to fully assess the yield potential compared to broader regional trends. However, the FMR provides a starting point for evaluating rental income prospects.

Moving to stability, there is insufficient data regarding the percentage of renters, days on market (DOM), and median income levels. These metrics would typically help gauge the financial health and predictability of the local housing market. Without these numbers, we cannot make a definitive assessment of the stability of the area.

In the context of high-yield versus low-stability markets, ZIP 62329 leans towards being a less stable investment due to the absence of key economic indicators that would support a robust analysis. The known FMR suggests decent rental income potential, but without additional market-specific data, it's difficult to determine if this is a high-yield opportunity or simply an average one.

A steady-cashflow zone would typically have consistent rental demand, shorter DOM periods, and higher median incomes, which help ensure regular and reliable tenant payments. The incomplete dataset for ZIP 62329 means we cannot confidently categorize it as a steady-cashflow zone.

Given the limited information, ZIP 62329 appears to be neither a high-yield nor a particularly stable market. Landlords and small-portfolio investors should proceed with caution, seeking additional local insights before making investment decisions. The reliance on a single FMR figure does not provide enough detail to recommend aggressive investment strategies such as flipping properties.

To improve the classification, further research into local rental market dynamics, property values, and tenant income levels would be necessary. Until then, the best characterization for ZIP 62329 is a market with moderate yield potential and unknown stability factors.

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.