Location: Richland County, IL | Metro: Crawford County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The analysis of ZIP 62466 within the Richland County, IL metro area reveals several key insights for landlords and small-portfolio investors.
The rent math does not favorably align. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, which is significantly higher than the actual market rent of $730 based on Census ACS data. This discrepancy suggests that landlords might struggle to charge the FMR without facing high vacancy rates.
Acquisition affordability is challenging to assess due to the lack of specific data points such as the median home value, days on market (DOM), and the percentage of homes requiring price cuts. Without these figures, it's difficult to provide a concrete evaluation of whether purchasing properties in this ZIP code would be financially viable.
Tenant demand is present but limited. With a total population of 4,001 and a renter share of 15.5%, there is a smaller pool of potential tenants compared to areas with higher renter shares. However, given the modest size of the population, even a small percentage can translate into a reasonable number of tenants.
Verdict: While there is tenant demand in ZIP 62466, the current market rent is below the FMR, indicating a potential challenge in achieving desired rental income levels. The lack of detailed acquisition metrics makes it hard to advise on purchase decisions, but the existing conditions suggest caution. Investors should consider these factors carefully before committing resources to this ZIP code.
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.