Location: Logan County, IL | Metro: De Witt County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The median income in ZIP code 62512 stands at $55,347. Given the lack of specific market rate rental data (indicated as N/A), it's impossible to directly assess how this compares to local rent prices. However, we can analyze the situation using the Fair Market Rent (FMR) standard set for vouchers, which is $990 per month for the metro area in fiscal year 2026.
To frame this from a renter's perspective, let's consider what this means for affordability. Assuming a typical renter spends around 30% of their income on housing, a household earning the median income would have a budget of approximately $1,383 per month for rent. This is significantly higher than the voucher payment standard of $990.
The ZIP code has a relatively low percentage of renters at 17.1%, with a total population of 446. This suggests a competitive environment for landlords, as there may be fewer potential tenants relative to the number of available units. The disparity between the median income-driven rent budget and the voucher payment standard indicates an affordability gap for those relying solely on vouchers.
For landlords considering whether to accept vouchers or focus on cash-paying tenants, the key takeaway is clear. While accepting vouchers ensures a steady stream of income, it may limit the pool of potential tenants to those who qualify for assistance. On the other hand, targeting cash-paying tenants could attract a broader range of residents, but landlords must be prepared to offer competitive pricing that aligns with the higher budget expectations based on the median income. In ZIP 62512, landlords should weigh the benefits of voucher stability against the potential for higher rents from cash-paying households, considering the local market dynamics and the size of the affordability gap.
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.