Location: Logan County, IL | Metro: Logan County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,240 |
| 5 Bedrooms | $1,438 |
| 6 Bedrooms | $1,611 |
| 7 Bedrooms | $1,740 |
| 8 Bedrooms | $1,827 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 62541 are structured around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $930 for the fiscal year 2026. This SAFMR figure is specifically tailored for this ZIP code, reflecting the unique cost dynamics of the area.
In ZIP 62541, the local market rent is currently unavailable, which makes it difficult to compare the SAFMR directly to the going rates. However, the SAFMR serves as a benchmark for determining the maximum rental assistance payment that can be made on behalf of a tenant participating in the Section 8 Housing Choice Voucher program.
A landlord receiving a Section 8 voucher must understand that the total amount paid for rent is composed of two parts: the tenant's contribution and the government's subsidy. The tenant is required to pay 30% of their adjusted income toward rent, while the government covers the difference between the tenant’s payment and the SAFMR, up to $930 per month for a two-bedroom unit in this case.
Utility allowances are also factored into the equation. For ZIP 62541, the allowance varies based on the size of the household but does not exceed the SAFMR cap. If the tenant’s share plus the utility allowance equals or exceeds $930, the landlord will receive the full SAFMR amount. Otherwise, the landlord receives the sum of these components, capped at $930.
To illustrate, if a tenant’s adjusted income is $1,000 per month, they would contribute $300 toward rent. Assuming the utility allowance adds another $100, the total subsidy from the government would be $530, bringing the landlord’s total monthly income to $630 for a two-bedroom unit. This leaves a reimbursement gap of $300, meaning the landlord receives $300 less than the SAFMR for this ZIP code.
In summary, landlords in ZIP 62541 should expect to receive up to $930 per month for a two-bedroom apartment under the Section 8 program. However, due to the combination of the tenant’s contribution and the utility allowance, there is typically a reimbursement gap where the landlord earns less than the full SAFMR. This gap can vary depending on the individual tenant’s income and household size, but in the example provided, the landlord would see a reimbursement gap of $300 per month.
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.