Section 8 Fair Market Rent (FMR) for ZIP 62459 - 2027

Location: Jasper County, IL | Metro: Jasper County, IL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$660
1 Bedroom	$730
2 Bedrooms	$950
3 Bedrooms	$1,130
4 Bedrooms	$1,370
5 Bedrooms	$1,589
6 Bedrooms	$1,780
7 Bedrooms	$1,922
8 Bedrooms	$2,018

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

281

Median Household Income

$86,250

Housing Units

118

Renter Percentage

8.9%

Occupancy Rate

94.9%

Renter Occupied

ZIP code 62459, located within the Jasper County, IL metro area, presents a unique set of characteristics that distinguish it from other ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 62459 is $930 for fiscal year 2026, which is notably higher than the market rent figure of $283. This significant disparity suggests that 62459 could be considered a value pocket for landlords participating in the Section 8 program, given the potential for higher rental income under the government-subsidized program.

The lack of available data on home values in ZIP 62459 makes direct comparisons challenging; however, the 8.9% renter share indicates a moderate reliance on rental properties. While this percentage is not exceptionally high, it does suggest that there is a reasonable demand for rental housing in the area.

To contextualize ZIP 62459 within the broader Jasper County, IL market, consider the following:

Fair Market Rent ($930): This figure is substantially above the average market rent, making it attractive for landlords seeking to maximize their subsidy income.
Market Rent ($283): This low market rent implies that without Section 8 subsidies, rental rates in the area are relatively affordable, which could indicate lower property costs overall.
Renter Share (8.9%): A moderate renter share suggests that while there is a presence of renters, it is not overwhelming. This balance could mean that the ZIP code is neither heavily reliant on nor completely detached from rental support programs.

Given the high FMR relative to the market rent and the moderate renter share, ZIP 62459 appears to be a sweet spot for Section 8 landlords and small-portfolio investors. The combination of higher subsidy rents and potentially lower acquisition or maintenance costs can create an appealing investment scenario. However, the absence of home value data means that a complete picture of the ZIP code's real estate landscape cannot be formed solely from these figures.

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.