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)
The ZIP code 62362 stands out due to its small resident population of only 237 individuals, with 16.9% of them renting their homes. The median income here is $47,500, which provides a snapshot of the financial capability of the area's inhabitants. However, the lack of data on median home value suggests that there might be limited housing stock or significant variance in property values.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920. This figure contrasts sharply with the actual market rent, which according to Census ACS data, is $396. Landlords and small-portfolio investors should note that the FMR is significantly higher than the market rent, indicating a potential opportunity to receive higher rental payments through the Section 8 program compared to the local market rates.
The data signature for ZIP 62362 reads as stable, with consistent figures for median income and a clear disparity between the FMR and market rents. This stability in economic data suggests that the area is unlikely to experience rapid changes in housing demand or supply. For investors, this means that while the number of renters is relatively low, the potential for higher rental income through Section 8 vouchers is present. However, the limited number of renters and the absence of median home value data imply that the investment opportunities are constrained and require careful consideration.
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.