Location: Mason County, IL | Metro: Cass 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 | $810 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,600 | $123,217 | 1.3% | A |
U.S. Census Bureau data (2024)
Households in ZIP code 62627, with a median income of $63,235, face significant challenges when it comes to affording the market rate rent of $1,027. This represents a substantial portion of their income, indicating limited financial flexibility for other living expenses.
To put this into perspective, the Fair Market Rent (FMR) as set by HUD for the metro area covering ZIP 62627 is $1,170 for fiscal year 2026. This amount exceeds the current market rate and is notably higher than what most residents earn annually. For landlords, this suggests that relying solely on market rate rents may limit your pool of potential tenants to those who either have higher incomes or are willing to allocate a larger share of their earnings towards housing.
The ZIP code has a relatively low percentage of renters at 16.2%, with a total population of 1,006. This indicates a smaller rental market, which could mean increased competition among landlords for the available tenant pool. The affordability gap between the median income and both the market rate and FMR highlights the importance of considering tenants with Section 8 vouchers.
For landlords evaluating strategies, the takeaway is clear: accepting Section 8 vouchers can provide a stable source of income, especially if the majority of your target market cannot afford the market rate. While the voucher payment standard of $1,170 is slightly above the current market rate, it ensures consistent and government-backed rent payments, reducing the risk of non-payment and vacancy. However, landlords must also weigh the administrative requirements and potential delays associated with voucher processing against the benefits of a steady tenant base.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.