Location: Schuyler County, IL | Metro: Adams County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The classification of ZIP code 62346 hinges significantly on the available data points, which are limited but still informative. With an FMR (Fair Market Rent) of $970 for the fiscal year 2026, this area stands out in terms of rental yields compared to the broader metropolitan average. However, the lack of specific market rent and home value figures means we cannot directly compare these aspects against typical local housing values, potentially indicating a niche or less competitive market.
Moving onto stability, the area has a relatively low percentage of renters at 2.8%. This suggests that the majority of residents might be homeowners, which could mean fewer tenants and thus lower demand for rentals. The absence of data on days-on-market (DOM) and median income further complicates a comprehensive analysis, but it's reasonable to infer that a lower renter percentage might correlate with higher tenant turnover rates, impacting long-term stability.
Given the data, ZIP 62346 appears to be neither a high-yield/low-stability flip-style market nor a steady-cashflow zone. The yield is above average due to the higher FMR, yet the stability is questionable because of the low renter percentage. Without precise market rent and home value comparisons, it's challenging to label this as a straightforward investment type. However, the high FMR indicates potential for strong rental income, while the low renter percentage implies that the market may not support consistent, long-term tenancies without careful management.
To conclude, this ZIP code offers a unique opportunity for landlords and small-portfolio investors who can manage short-term tenancies and capitalize on the higher rental rates. It leans towards being a moderate-risk investment with decent yield potential, but success will depend on the ability to attract and retain tenants in a predominantly owner-occupied area.
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.