Location: Adams County, IL | Metro: Adams County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $730 |
| 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 ZIP code 62339 is a modest-sized area with a population of 970 individuals. With 22.1% of residents being renters, it suggests that while there is a rental presence, it is not a heavily renter-dominated market. The median household income stands at $62,422, which is a key figure when assessing the suitability of Section 8 tenants.
To understand the depth of voucher demand, consider the typical market rent of $760. This amount represents approximately 12.2% of the median household income, indicating that the rent is relatively affordable for most residents. However, compared to the Fair Market Rent (FMR) of $920 for the fiscal year 2026, the market rent of $760 is lower, suggesting that landlords might find it easier to attract tenants with vouchers.
A landlord in ZIP 62339 should expect a tenant profile that includes individuals and families who rely on housing vouchers to afford their living spaces. These tenants will likely have an income below the area median, making them eligible for assistance. Given the median income and the percentage of renters, landlords can anticipate a mix of voucher holders and non-voucher tenants.
Moreover, the fact that the median income is higher than the average market rent indicates that there is a segment of the population capable of paying market rates without assistance. Yet, the lower market rent relative to the FMR also points to a potential for attracting tenants who receive some form of rental subsidy, whether through Section 8 or other means.
In summary, ZIP 62339 offers a balanced opportunity for landlords. While it's not a highly renter-heavy area, the combination of median income levels and market rents makes it feasible to accommodate Section 8 tenants effectively. Landlords should prepare for a diverse tenant base, including those who benefit from rental assistance programs.
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.