Section 8 Fair Market Rent (FMR) for ZIP 62353 - 2027

Location: Brown County, IL | Metro: Brown County, IL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$750
1 Bedroom	$830
2 Bedrooms	$1,080
3 Bedrooms	$1,350
4 Bedrooms	$1,560
5 Bedrooms	$1,810
6 Bedrooms	$2,027
7 Bedrooms	$2,189
8 Bedrooms	$2,298

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,066

Median Household Income

$66,000

Housing Units

1,645

Renter Percentage

35.5%

Occupancy Rate

89.0%

Renter Occupied

519

Housing Authorities Serving ZIP 62353

Pike County Housing Authority (Barry, IL)
Housing Authority of the County of Brown (Mount Sterling, IL)

ZIP code 62353, located in Southern Illinois, is a rural area that offers unique opportunities for real estate investment, particularly for those interested in the Section 8 housing market. The region's economic profile and rental dynamics provide a stable foundation for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,050, indicating a moderate increase over previous years and reflecting the cost of renting a standard two-bedroom unit.
The current market rent for the area, according to the Census American Community Survey, stands at $755, which is significantly lower than the FMR, suggesting potential for higher returns on investment properties through Section 8 contracts.
The median home value in ZIP 62353 is $152,722, making it an affordable market for both homeowners and investors looking to acquire properties at reasonable prices.
Renters make up 35.5% of the housing stock, showing a substantial demand for rental properties and a diverse mix of housing tenures in the area.
The median income for residents is $66,000, providing a steady income base for potential tenants and reducing the risk of default on rental payments.
Despite the lack of specific data on days on market (DOM), the combination of affordable home values and a moderate renter population suggests that properties can be leased out relatively quickly.

The analysis of these key metrics indicates that ZIP 62353 presents a favorable environment for Section 8 investments. With a significant gap between the FMR and the actual market rent, there is potential for landlords to secure higher rents through government-subsidized housing programs. Additionally, the median home value and income levels suggest a manageable risk profile, while the renter share points to a consistent demand for rental properties. Overall, the area's economic stability and the availability of affordable homes make it a promising location for investors seeking to enter the Section 8 market.

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.