Location: Crawford County, IL | Metro: Crawford County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The ZIP code 62433 stands out due to its unique demographic and economic characteristics. With a population of just 1,140 residents, it has a rental rate of 28.1%, indicating a significant portion of the community relies on rented properties. The median income in this area is $73,750, which suggests a moderate level of financial stability among its inhabitants. However, the lack of data on median home values points to a potential concentration of rental properties over owned homes.
For landlords and small-portfolio investors, the key figure to focus on is the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR is set at $920, whereas the current market rent, based on Census ACS data, is $785. This discrepancy means that landlords participating in the Section 8 program can expect higher rents than those offered in the open market, potentially increasing profitability for rental units enrolled in the program.
The data signature of ZIP 62433 indicates a stable environment, with consistent income levels and a notable but steady rental market share. This stability could be beneficial for long-term investment strategies, particularly for those looking to capitalize on the guaranteed rental income provided by the Section 8 program. Landlords should be aware of the opportunity to increase their rental income by enrolling their units in the Section 8 program, given the higher FMR compared to the current market rates. The consistent income levels also suggest that tenants are likely able to meet their obligations under the program, reducing the risk of default or non-payment.
In summary, ZIP 62433 offers a stable yet economically viable market for Section 8 rentals. The higher FMR of $920 compared to the market rate of $785 presents a clear advantage for landlords. This ZIP code's characteristics make it an attractive option for investors seeking a reliable return on investment through the Section 8 housing assistance program.
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.