Location: Crawford County, IL | Metro: Clark County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
U.S. Census Bureau data (2024)
13.0% of residents in ZIP code 62478 are renters, indicating a modest demand for rental properties. However, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,230, which is a critical benchmark for Section 8 landlords. Despite the lack of specific data on market rent and days on market (DOM), the median home value of $145,801 suggests that property values are stable. The median income of $98,750 provides insight into the financial capabilities of potential tenants. Although there's no information on the percentage of price-cut share, these figures paint a picture of an area where Section 8 can be a viable option for landlords. With a stable median home value and a defined FMR, landlords can confidently set their rents within the allowable range, ensuring they receive fair compensation while providing affordable housing. The absence of specific market rent data means that landlords must rely on the FMR as a guideline, but with the median income being slightly below the FMR, it's clear that many residents would benefit from Section 8 assistance. Landlords in ZIP 62478 should consider participating in the Section 8 program to attract reliable tenants who can afford the rent without straining their budget.
The verdict for Section 8 in ZIP 62478 is positive, given the stable property values and the alignment between the median income and FMR. This makes it a good opportunity for landlords looking to offer affordable housing options while maintaining financial stability.
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.