Location: Schuyler County, IL | Metro: Schuyler County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62639, located in the Schuyler County, IL metro area, reveals several key points for landlords and small-portfolio investors.
Firstly, the rent math does not work in favor of landlords. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, while the market rent based on Census ACS data is slightly higher at $946. This indicates that landlords would be renting below market rates if they adhere to the FMR guidelines, which could result in lower profits.
Secondly, the acquisition cost in this ZIP code is not affordable for potential investors. The median home value is listed as N/A, and with N/A days on the market (DOM) and an N/A% share of homes needing price cuts, it's challenging to gauge the affordability of acquiring properties. These missing figures suggest either a lack of recent sales data or an unstable market, both of which pose significant risks to investment.
Lastly, there is a notable tenant demand in ZIP 62639. With a total population of 215 and 33.9% of residents being renters, there is a consistent need for rental properties. However, the small population size limits the overall number of potential tenants, which could affect long-term occupancy rates.
In summary, while there is a demand for rental properties in ZIP 62639, the rent math works against maximizing profit, and the lack of specific data on home values and market conditions makes acquisitions less attractive. Landlords should proceed with caution and consider the limited scale of opportunities in this market.
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.