Location: Pike County, IL | Metro: St. Louis, MO-IL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $78,194 | 1.23% | A |
| 3BR | $1,170 | $120,744 | 0.97% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 62366, Pleasant Hill, IL, in fiscal year 2024 is set at $930. This figure represents the payment standard for Section 8 housing vouchers, which means that if you participate in the program, you will receive a fixed amount of $930 per month from the government for each voucher holder occupying your property. It's important to note that this is not the rent you can charge tenants; it's the maximum subsidy the government will pay.
To put this into perspective, the average rent for the area, according to the Census American Community Survey (ACS), is $658. This indicates that the FMR is higher than the typical rent, potentially making Section 8 participation financially viable for landlords. However, you must ensure that your property meets the required standards and is located in an eligible area to qualify for the subsidy.
The 17.7% share of renters in the area suggests a moderate demand for rental properties. While not overwhelming, there is a significant portion of the population who rely on renting, which could translate into steady occupancy rates for your property. The median household income of $95,997 also gives insight into the economic conditions of the area, indicating that while some residents might struggle to afford market-rate rents, others could be potential non-Section 8 tenants.
Before committing to a Section 8 rental, verify that your property complies with Housing Quality Standards (HQS). These are minimum standards set by the Department of Housing and Urban Development (HUD) to ensure safe and decent living conditions for tenants. Failure to meet these standards can result in a denial of tenancy or reduced subsidies.
In summary, the FMR of $930 provides a clear benchmark for the subsidy you can expect, which is higher than the local average rent of $658. With a 17.7% renter share, there is demand for rentals, and the median income of $95,997 offers a broader context for the area's affordability. Ensure your property meets HQS to avoid complications and maximize the benefits of participating in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.