Location: Wabash County, IL | Metro: Lawrence County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 62410 in the metro area for fiscal year 2026 is set at $920. This figure represents the maximum amount that a landlord can receive through the Section 8 program for renting a unit in this area. It's important to note that this is the payment standard, meaning it does not necessarily reflect the actual rent you will charge your tenants.
While the local median rent for ZIP 62410 is currently listed as N/A, the 8.2% renter share indicates a significant portion of the population relies on rental housing. This suggests there is a solid demand for rental properties, particularly those that qualify under the Section 8 program.
The median household income in ZIP 62410 is $133,711. However, this high figure does not directly impact the acquisition cost of properties suitable for Section 8 rentals. Instead, it highlights the economic diversity of the area, where a portion of the population still needs assistance to afford housing. Given the 8.2% renter share, you should focus on finding properties that fit the income level of potential Section 8 tenants.
Before proceeding with your first Section 8 rental property in ZIP 62410, ensure you verify the specific requirements for property condition and rent limits set by the local Housing Authority. These conditions must be met to participate in the program effectively.
In summary, the $920 FMR provides a clear guideline for the maximum reimbursement you can expect through the Section 8 program. With an 8.2% renter share, there is a consistent demand for affordable housing. The local median income of $133,711 underscores the need for subsidized housing options. Your due diligence should include confirming compliance with local Housing Authority standards.
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.