Location: Fayette County, IL | Metro: Effingham County, IL
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 | $860 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $890 | $171,045 | 0.52% | F |
| 3BR | $1,390 | $182,369 | 0.76% | D |
U.S. Census Bureau data (2024)
The ZIP code 62411 stands out within its county due to its relatively low population of 4,249 residents, with only 16.1% of them renting their homes. This indicates a primarily owner-occupied community, where the median home value is notably high at $160,470. Despite the high median home value, the median household income in ZIP 62411 is comparatively modest at $66,111, suggesting that homeownership may be a significant financial commitment for many residents.
When it comes to the voucher economics, the Federal Market Rent (FMR) for ZIP 62411 is set at $1,050 for fiscal year 2026, which is higher than the current market rent of $786 based on Census American Community Survey (ACS) data. This discrepancy means that landlords accepting Section 8 vouchers could potentially receive higher rental payments compared to the local market rates. However, the lower percentage of renters might indicate less demand for subsidized housing units, which could impact the number of available vouchers in the area.
The data signature for ZIP 62411 reads as "stable." With a high median home value and a majority of owner-occupied residences, there is little indication of rapid change in the housing market. The modest median income suggests that while the area is not experiencing significant growth in terms of wealth, it also isn't facing economic downturns that would typically lead to increased demand for rental properties or Section 8 vouchers. Landlords and small-portfolio investors should consider the potential benefits of higher FMR payments against the backdrop of limited rental demand when evaluating opportunities in this ZIP code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.