Location: Jasper County, IL | Metro: Clark County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62449 reveals a unique balance between yield potential and market stability, making it an intriguing area for real estate investment, particularly for those interested in Section 8 properties.
Yield Potential: The Federal Market Rent (FMR) for the metro area in fiscal year 2026 stands at $920, while the market rent in ZIP 62449 is $545. This indicates that there is a significant gap between the FMR and the actual market rent, suggesting a high-yield environment when considering Section 8 rental subsidies. Given the average home value of $114,918, landlords can expect a substantial return on their investment relative to the property cost. For instance, a landlord could potentially lease a property at the market rate of $545 and receive a subsidy that brings the total rental income closer to the $920 FMR, thus maximizing profitability.
Market Stability: The stability of ZIP 62449 is mixed but leans towards being a steady-cashflow zone. With 21.5% of residents being renters, there is a consistent demand for rental properties, which supports stable occupancy rates. However, the lack of data on days on market (DOM) makes it challenging to assess how quickly properties can be rented out, indicating some uncertainty in the turnover rate. Additionally, the median household income of $59,555 provides insight into the economic health of the area and the ability of residents to afford housing. While this figure is not exceptionally high, it does suggest that there is a reasonable level of financial stability among the population, which is crucial for maintaining consistent rental payments.
Based on these figures, ZIP 62449 appears to be a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The combination of a relatively low market rent compared to the FMR and a moderate percentage of renters indicates that while yields can be attractive, the market is also stable enough to ensure regular cash flow without excessive risk. The median income figure further supports this conclusion, as it suggests that tenants have a reliable source of income to cover their rent obligations.
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.