Location: Hancock County, IL | Metro: Adams County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
ZIP 62351, located in Hancock County, IL, presents an interesting opportunity for Section 8 real-estate investors. With a $1,130 Fair Market Rent (FMR) set for the metro area in fiscal year 2026, and a $667 market rent, there is a significant spread of $463. This makes ZIP 62351 a strong candidate for a cash-flow anchor in a Section 8 portfolio.
The median home value in this ZIP is $200,575, which is relatively low compared to the national average. However, the key factor for Section 8 investors is the rental income. The FMR is substantially higher than the market rent, indicating that properties can be rented at rates above the local average while still being affordable under the Section 8 program. This creates a scenario where landlords can achieve positive cash flow from the properties, making them reliable anchors in a diversified investment portfolio.
Additionally, the median household income in ZIP 62351 is $77,298, which suggests that there is sufficient demand for subsidized housing. The renter share stands at 13.4%, providing a stable tenant base that is likely to benefit from the Section 8 program. Given these conditions, investing in ZIP 62351 as part of a Section 8 portfolio strategy would ensure steady, predictable income from properties that are well below the FMR but still offer attractive rental rates.
The data does not provide a clear indication of appreciation potential or days on market, which are important factors for other types of investments. Therefore, focusing on ZIP 62351 as a cash-flow anchor is the most prudent approach based on the available information. Landlords and small-portfolio investors should leverage this ZIP's characteristics to secure consistent returns through rental income, rather than betting on rapid appreciation or short-term liquidity.
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.