Location: Pike County, IL | Metro: Pike County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
31.9% of the residents in ZIP code 62357 are renters, indicating a significant portion of the population relies on rental housing. This statistic is crucial for landlords and small-portfolio investors looking to understand the local demand for rental properties. The $920 Fair Market Rent (FMR) for the metro area in fiscal year 2026 suggests that rental units in this ZIP code should aim to be priced around this figure to remain competitive and meet the needs of low-income families who qualify for assistance under the Section 8 program. In comparison, the market rent stands at $732 according to Census ACS data, which is lower than the FMR, potentially offering opportunities for landlords to increase their rental income while still being affordable.
The median income of $81,000 in ZIP 62357 provides insight into the overall financial health of the area's residents. While this figure is not directly related to the eligibility criteria for Section 8, it can help investors gauge the broader economic context. The lack of available data on median home values and days on market (DOM) indicates a scarcity of recent sales activity or a concentration of rental properties rather than homes for sale. Similarly, the absence of information regarding the percentage of price-cut shares further supports the idea that the market here is predominantly rental-focused.
Given the $920 FMR and the $732 market rent, landlords can expect a modest premium when participating in the Section 8 program. The high renter share of 31.9% ensures a steady demand for rental properties, making ZIP 62357 an attractive investment opportunity for those interested in leveraging the Section 8 program to secure long-term tenants. The consistent income provided by government subsidies can be a reliable source of cash flow for investors, especially in areas where the market rent is below the FMR.
Verdict: ZIP 62357 is suitable for Section 8 investments, given the high renter share and favorable gap between market rent and FMR.
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.