Location: Henderson County, IL | Metro: Hancock County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The ZIP code 62330 stands out in its county with a unique set of characteristics. It has a population of 1,472 residents, of which only 12.7% rent their homes, indicating a primarily owner-occupied area. The median income here is $61,042, placing it above the national average. Notably, the median home value in ZIP 62330 is $91,834, suggesting that property values are relatively affordable compared to other regions.
When considering the economics of Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,040. However, the current market rent, as per Census ACS data, is lower at $863. This discrepancy between the FMR and the actual market rent can be advantageous for landlords, as it allows them to potentially charge closer to the FMR when participating in the Section 8 program, thereby increasing their rental income.
The data signature for ZIP 62330 reads as stable. With a low percentage of renters and a moderate median income, the area shows little sign of rapid change. Landlords and small-portfolio investors can expect steady demand from tenants who benefit from the Section 8 program, without the volatility often associated with transitional areas.
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.