Location: Jasper County, IL | Metro: Jasper County, IL
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 62475, located within the Jasper County, IL metro area, presents a unique profile when compared to typical ZIP codes in the same county. With a Fair Market Rent (FMR) of $930 for fiscal year 2026, it aligns closely with the broader metro average, suggesting that it is neither significantly underpriced nor overpriced relative to its surroundings.
The lack of specific data on market rent and home value for ZIP 62475 makes direct comparisons challenging. However, given the context of Section 8 analysis, the FMR figure is crucial as it indicates the maximum allowable rent for low-income housing assistance. At $930, landlords can expect to charge this amount or less to be competitive with the program's guidelines.
A particularly noteworthy feature of ZIP 62475 is its 0.0% renter share. This suggests that virtually all residents in this area own their homes, which diverges sharply from the characteristics of a typical Section 8 target neighborhood. In such neighborhoods, a higher percentage of renters would usually indicate a greater demand for rental properties eligible for Section 8 subsidies.
Given the absence of market rent and home value data, it is reasonable to infer that ZIP 62475 is likely not a value pocket or a premium sub-market within the Jasper County, IL metro area. Instead, it appears to be a predominantly owner-occupied area, which might not present the usual opportunities for landlords focused on Section 8 tenants. The zero percent renter share implies a low demand for rental units, which could make it less attractive for small-portfolio investors seeking to capitalize on Section 8 incentives.
To summarize, while ZIP 62475 adheres to the metro's FMR standards, its characteristics suggest it is an outlier in terms of tenant composition. Landlords should consider this when evaluating investment opportunities in the area, as it does not exhibit the typical signs of a Section 8-friendly market.
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.