Location: Jasper County, IL | Metro: Cumberland 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 | $750 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $790 | $276,060 | 0.29% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62467 reveals key insights for landlords and small-portfolio investors considering investment in this area.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920. However, the current market rent based on Census ACS data stands at $811. This indicates that while the FMR suggests higher potential rents, actual market conditions reflect a lower figure. Landlords should adjust their expectations accordingly and aim to align their rental pricing with the market average to remain competitive.
Regarding the affordability of acquisition, the median home value in ZIP 62467 is $260,776. Unfortunately, the data does not provide the days on market (DOM) or the percentage of homes that required price cuts to sell. Without these metrics, it's challenging to gauge the ease of acquiring properties in this area. However, the median home value suggests that property acquisition will be a significant financial commitment, necessitating careful consideration of long-term returns.
The third question concerns tenant demand. ZIP 62467 has a population of 3,710, with 15.8% being renters. This relatively low renter share might indicate limited tenant demand, which could affect the occupancy rates and the speed at which properties can be rented out. Landlords and investors must weigh this against the potential benefits of lower competition for tenants and possibly more stable rental agreements.
In conclusion, while the rent math in ZIP 62467 leans towards slightly below fair market levels, indicating a need for realistic pricing strategies, the acquisition cost remains high. With a modest renter share, the demand for rental units is not overwhelming, suggesting that success in this market will depend on effectively managing costs and ensuring a competitive edge through quality and location. Investors should proceed with caution, focusing on areas where they can leverage their strengths to overcome the challenges posed by the local real estate landscape.
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.