Location: Greene County, IL | Metro: Macoupin County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 62630 in Greene County, Illinois, reveals a rental environment that is currently underserved by market-rate properties. The Fair Market Rent (FMR) as defined by HUD for the zip scope in fiscal year 2024 is set at $930. However, due to the lack of specific market rent data for this area, it's challenging to make a direct comparison. Based on the available HUD FMR, voucher tenants would cashflow at this rate, indicating that landlords could expect stable income without significant risk.
The median home value in ZIP 62630 is not available, which makes deriving an exact rent-to-price ratio difficult. Nonetheless, the absence of specific market rent data suggests that there is a gap in the local rental market, particularly for affordable housing options. This implies that landlords who can offer properties at or slightly above the FMR will likely find a ready tenant pool.
The dynamics of days on market (DOM) and the percentage of homes needing price cuts are also not available, but these factors typically play a role in understanding the broader real estate market health. In the context of Section 8 investing, the most critical factor remains the alignment between HUD FMR and the actual rents that can be charged. Given the current FMR, landlords can expect to cover their costs and generate a modest profit with units priced around the voucher amount.
The strongest angle for investors in ZIP 62630 is cashflow. With the FMR covering operational costs and offering a reliable source of income, landlords can focus on maintaining their properties rather than worrying about finding tenants or fluctuating rents. This stability is crucial for small-portfolio investors looking to secure consistent returns without the need for speculative investments in property value appreciation.
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.