Location: Mason County, IL | Metro: Mason County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 62633, as set by the Department of Housing and Urban Development (HUD) for metro FY 2026, is $920. This figure represents the payment standard for Section 8 housing vouchers in the area, which means that HUD will pay up to $920 per month towards the rent of a qualified property. It's important to note that this is not the amount you can charge as rent; it's the maximum reimbursement rate for the voucher program.
In comparison, the average rent in ZIP 62633 is currently $680 according to the latest Census American Community Survey (ACS) data. This indicates that the FMR is higher than the typical market rent, providing an opportunity for landlords to receive a slightly better rate through the Section 8 program than they might in the open market.
The renter share in ZIP 62633 is 14.0%, meaning that approximately 14% of the population are renters. This suggests a moderate level of rental demand in the area. However, the acquisition cost for properties in this ZIP code is listed as N/A, which could indicate limited data on recent property purchases or a lack of publicly available information on real estate transactions. This makes it difficult to assess the typical price range for buying rental properties in the area without further research.
If you're considering your first Section 8 rental in ZIP 62633, one critical factor to verify before proceeding is the condition of the property against HUD’s Housing Quality Standards (HQS). These standards ensure that the property meets certain safety and habitability requirements. You must confirm that your property complies with these standards to be eligible for the program. Additionally, check if there are any local regulations or restrictions that might affect your ability to participate in Section 8.
By participating in the Section 8 program, you can expect a steady stream of rental income guaranteed by HUD, albeit at the FMR rate of $920. This can be particularly beneficial for landlords who want to avoid the risk of vacancy or non-payment, as the program provides a reliable tenant base.
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.