Location: Shelby County, IL | Metro: Shelby County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,110 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $127,216 | 0.73% | D |
| 3BR | $1,110 | $192,525 | 0.58% | F |
U.S. Census Bureau data (2024)
ZIP code 62571, located in Tower Hill, IL, within the Shelby County, IL metro area, presents a unique profile when compared to other ZIP codes in the county. The Fair Market Rent (FMR) for 62571 is set at $920 for fiscal year 2026, which is slightly above the average market rent of $813. This indicates that the rental market in 62571 is somewhat pricier than what might be expected based on market conditions alone.
The median home value in 62571 is $156,095, which is a key figure for understanding the overall housing market. If this value is notably lower than the average home value in Shelby County, it could suggest that 62571 is a value pocket, offering opportunities for investment at a lower price point. However, if it aligns closely with the county average, it would likely be considered a mid-tier neighborhood.
The renter share in 62571 stands at 24.4%, which is higher than the national average but must be compared against the average renter share for Shelby County to determine its significance. A high renter share combined with a below-metro home value can indicate a sweet spot for Section 8 investors, as it suggests a strong demand for affordable rental housing in an area where property values are still relatively low.
To conclude, without additional context on the average metrics for Shelby County, we can infer that ZIP code 62571 has characteristics of both a mid-tier neighborhood and a potential value pocket. The higher-than-average FMR and significant renter share make it a noteworthy area for landlords and small-portfolio investors looking to capitalize on the demand for affordable rentals. Should the home value also be below the Shelby County average, this would further support the notion of 62571 being a value pocket, particularly attractive for Section 8 investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.