Location: Adams County, IL | Metro: Adams County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 62360 presents a dynamic environment where the Federal Market Rent (FMR) stands at $1,120 for the fiscal year 2026, while the actual market rent reported by the Census American Community Survey (ACS) is $768. This gap suggests that the area is experiencing a scenario where the supply of rental units exceeds the current demand. The lower market rent compared to the FMR indicates that landlords might be offering competitive pricing to attract tenants, which could imply an oversupply condition.
The median home value of $157,000 provides insight into the overall affordability and economic makeup of the region. This figure can be a factor in the high percentage of renters, with 12.0% of the population being renters. While this percentage is relatively low, it points towards a segment of the population that may face long-term housing pressure due to financial constraints, potentially making rental properties a more viable option for them. This demographic characteristic can influence the stability and growth of the rental market, as a significant portion of residents may continue to rely on rentals rather than homeownership.
The absence of specific data regarding price-cut share and days on market (DOM) limits a detailed analysis of recent market adjustments. However, the available data suggest that the rental market in 62360 is characterized by a balance that leans towards a surplus of rental options, which can benefit both landlords and small-portfolio investors looking to capitalize on the steady demand for affordable housing. Landlords should remain attentive to the local economy and the potential for changes in the housing landscape that could affect occupancy rates and rental income.
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.