Location: Schuyler County, IL | Metro: Schuyler County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,310 |
| 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)
ZIP code 62624, located within the Schuyler County, IL metro area, has a Federal Market Rent (FMR) of $930 for fiscal year 2026. This figure is critical for understanding how this ZIP compares to others in the county, particularly for landlords and small-portfolio investors focused on Section 8 housing.
The FMR of $930 suggests that 62624 is likely a value pocket within the metro area. Typically, FMRs are set below the market rents to ensure affordability for low-income families. Given that the market rent for this ZIP code is not available, we can infer that it is higher than $930, making it an attractive option for investors looking to maximize their returns while still qualifying for Section 8 subsidies.
The renter share of 7.6% indicates a relatively small proportion of residents who are renters compared to homeowners. However, this does not necessarily mean that 62624 is less desirable for rental investments. In fact, areas with a lower renter share but significant Section 8 activity can be particularly advantageous, as they often attract families seeking affordable housing options.
Without specific market rent and home value data for comparison, we cannot definitively state how 62624 stacks up against other ZIP codes in terms of overall real estate value. However, the combination of a defined FMR and a modest renter share might suggest that this area could be a sweet spot for Section 8 properties. It's worth noting that the lack of market rent and home value data could indicate that the area is less developed or has fewer rental units, which could present both opportunities and challenges for investors.
To make a more precise determination about the nature of 62624 within the Schuyler County, IL metro, it would be beneficial to conduct further analysis. Comparing the FMR of $930 to the average market rents across the county would provide clearer insight into whether this ZIP represents a value pocket, a mid-tier neighborhood, or a premium sub-market. Additionally, examining trends in renter share and Section 8 participation rates over time could help identify emerging patterns and potential growth areas.
In conclusion, based on the available data, ZIP code 62624 appears to be a value pocket within the Schuyler County, IL metro, offering a defined FMR of $930 and a modest renter share. These factors combined suggest that it could be an ideal location for Section 8-focused real estate investments.
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.