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 62480 presents a unique balance between yield and stability for real estate investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930, while the market rent stands at $625. This discrepancy indicates a potential for higher rental yields when compared to typical market rates. However, the lack of data on home values suggests that direct purchase and rental strategies might face challenges in accurately valuing properties.
Moving to the stability axis, the ZIP code reveals a mixed picture. With only 13.8% of residents being renters, the demand for rental properties is relatively low. This could translate into higher vacancy rates and greater competition among landlords. Additionally, the absence of data on days on market (DOM) further obscures the ease of renting out properties in this area. On a positive note, the median household income of $64,750 suggests that tenants who do rent in this area have the financial capability to meet their obligations, contributing to overall stability.
Given these factors, ZIP 62480 does not fit neatly into a high-yield/low-stability flip-style market nor a steady-cashflow zone. Instead, it represents a middle ground where investors can achieve decent yields by leveraging the FMR versus market rent gap, but must be cautious due to the low percentage of renters and the lack of clear indicators regarding property values and market dynamics. Investors should focus on areas with higher renter populations or seek additional data to make informed decisions about the viability of rental investments in 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.