Location: Edgar County, IL | Metro: Clark 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 | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $172,553 | 0.71% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 62441 is poised for careful consideration by both landlords and small-portfolio investors. With a median home value set at $167,600, the area presents an accessible entry point for those looking to invest in residential properties. However, the absence of percentage data on listings that have been reduced and the median days on market (DOM) suggests a stable market with little recent fluctuation in pricing power.
On the rental side, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $1,010, while the current market rate stands at $894 according to the Census ACS. This indicates a potential upward trajectory in rental values, offering investors the opportunity to gradually increase rents towards the FMR level without facing immediate resistance from tenants. The gap between the FMR and the current market rate signals a favorable environment for landlords who can leverage this trend to improve their cash flow.
For long-term investors, the setup in ZIP 62441 implies a realistic appreciation thesis. Given the median home value and the potential for rental rates to rise closer to the FMR, there is a solid foundation for property values to grow over the next 12-24 months. As rental demand aligns more closely with the projected FMR, it will likely support higher property valuations, driven by the increased income potential of the homes. Additionally, if the trend of stable pricing continues, with minimal reductions in listing prices, it suggests that the local market has a strong underlying demand for housing, which further supports the case for appreciation.
Investors should monitor broader economic indicators and local market trends to ensure that they remain aligned with this thesis. While the current data does not indicate significant short-term volatility, the long-term outlook for both home values and rental income appears promising, providing a clear path for value growth and enhanced profitability.
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.