Location: Pike County, IL | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 62355 reveals a competitive rental environment where HUD's Fair Market Rent (FMR) of $930 is slightly below the Census ACS reported market rent of $950 for the fiscal year 2024. This indicates that voucher tenants will cashflow marginally, requiring landlords to manage costs effectively to maintain profitability.
To understand the overall investment landscape, consider the median home value of $136,188. The rent-to-price ratio derived from this data point shows that the area is reasonably priced for renters, with an implied annual rent of approximately $11,400 ($950 x 12 months), which is about 8.36% of the median home value. This suggests that the local real estate market supports both rental and ownership activities without significant discrepancies between the two.
The dynamics of days on market (DOM) and the percentage of price cuts are not available, but they would be crucial indicators for understanding how quickly properties sell and at what price adjustments. In the absence of these metrics, it is important to focus on the stability of the market, given the close alignment between FMR and market rent.
The strongest investor angle in ZIP 62355 is stability. With HUD FMR closely matching market rents, there is a consistent demand for affordable housing, making it a reliable option for long-term investment. While cashflow is marginal, the predictability of tenant support through vouchers provides a solid foundation for steady returns.
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.