Location: Effingham County, IL | Metro: Clay 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 | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,270 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $800 | $188,763 | 0.42% | F |
U.S. Census Bureau data (2024)
In ZIP code 62443, the Section 8 program operates under specific economic guidelines that landlords need to understand. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $970. This figure represents the maximum amount that the Housing Choice Voucher Program will pay for a unit of this size in this specific area.
The local market rent, according to Census ACS data, is $911. This is the average rent charged for similar units in the same area without the use of a voucher. It's important to note that while the SAFMR is specific to ZIP 62443, the local market rent reflects general trends and can vary based on individual property conditions and amenities.
A landlord participating in the Section 8 program receives payment from the government for the difference between the tenant's contribution and the SAFMR. The tenant is typically responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,500 per month for a tenant in ZIP 62443, the tenant would contribute approximately $450 towards rent. The remaining balance, up to the SAFMR, is covered by the government.
In addition to the base rent, there are utility allowances that factor into the total reimbursement. These allowances can vary but are generally designed to cover a reasonable estimate of utility costs for the tenant. For ZIP 62443, the utility allowance might be around $150, which is also reimbursed by the government.
This means that if a landlord charges the SAFMR of $970 for a two-bedroom unit, and the tenant contributes $450, the government would pay the landlord $520 to cover the remaining rent and utility allowance. However, if the landlord sets the rent at the local market rate of $911, the government would still pay up to $970, meaning the landlord could receive the full $911 plus an additional $60 to cover the utility allowance, effectively closing the gap and providing a slightly higher reimbursement than the market rate.
To summarize, a landlord in ZIP 62443 who participates in the Section 8 program can expect a reimbursement of $970 for a two-bedroom apartment, with the tenant contributing $450 and the government covering the rest. Given the local market rent of $911, this results in a surplus of $59 for the landlord when setting rent at the market rate, or a gap if they set it above $970.
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.