Location: Fayette County, IL | Metro: Bond County, IL HUD Metro FMR Area
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 | $720 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $92,309 | 1.01% | B |
| 3BR | $1,210 | $150,697 | 0.8% | C |
| 4BR | $1,350 | $213,918 | 0.63% | D |
U.S. Census Bureau data (2024)
In Vandalia, Illinois, specifically ZIP code 62471, the Section 8 housing program operates under a set of economic guidelines that directly impact landlords and small-portfolio investors. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is $920. This figure is crucial because it sets the maximum amount that a Section 8 voucher can cover for rent in this area.
The local market rent for a two-bedroom unit, according to the Census ACS data, is $811. This indicates that the SAFMR for ZIP 62471 is above the average market rent, which could be advantageous for landlords participating in the program. However, it's important to understand how the actual payment is structured when a tenant uses a voucher.
A Section 8 voucher typically covers the difference between the tenant's contribution and the SAFMR. The tenant's portion is usually 30% of their income. If we assume an average tenant income that would result in a $246 contribution (30% of a $820 income), the remaining amount covered by the voucher would be calculated as follows:
The total rent is $920. The tenant contributes $246, leaving a balance of $674 to be covered by the voucher. Additionally, the voucher includes utility allowances. For a two-bedroom apartment, the utility allowance is generally around $200 per month. Therefore, the voucher would pay $674 for rent plus $200 for utilities, totaling $874.
This calculation shows that the voucher reimbursement is slightly higher than the local market rent of $811. Thus, landlords can expect a surplus of approximately $63 per month on a two-bedroom rental unit when factoring in both the rent and utility allowances. This surplus can help offset any potential maintenance costs or vacancies that might occur.
It's worth noting that the SAFMR is set specifically for this ZIP code, meaning it reflects the unique economic conditions and rental market dynamics of the area. Landlords should consider these specifics when deciding whether to participate in the Section 8 program.
In conclusion, for a two-bedroom apartment in ZIP 62471, the typical reimbursement gap or surplus is a positive $63 per month, indicating that landlords can benefit financially from accepting Section 8 vouchers while still maintaining their properties in accordance with program standards.
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.