Location: Mason County, IL | Metro: Logan County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The real estate market in ZIP 62671 presents a nuanced scenario for landlords and small-portfolio investors, particularly when considering both the purchase and rental sides of the equation.
On the home value side, the median home value is currently listed as N/A, indicating incomplete data. However, with N/A% of listings being reduced and a median days on market (DOM) of N/A days, it suggests that there is a moderate level of competition among buyers. When listings are frequently reduced and sell relatively quickly, it typically signals that sellers have some pricing power. This means that, despite incomplete data, the market appears to be somewhat balanced, favoring neither buyers nor sellers overwhelmingly. Over the next 12-24 months, this dynamic could imply stable to slightly increasing home values, contingent upon broader economic conditions and local employment trends.
Moving to the rental market, the Federal Market Rent (FMR) for ZIP 62671 is projected at $1,020 for fiscal year 2026, while the current market rent stands at $858 according to the Census American Community Survey (ACS). This gap between FMR and actual market rent highlights an opportunity for landlords to gradually increase rents, aligning them more closely with federal benchmarks without immediately pricing out tenants. The discrepancy also indicates that the rental market has room for growth, suggesting that rental income could rise in tandem with federal adjustments.
For long-term investors, the setup implied by the data suggests a realistic appreciation thesis. As the area's rental rates move towards the FMR, the value of rental properties should also increase, driven by higher cash flows. Additionally, if the trend of reduced listings and quick sales continues, it could lead to a gradual increase in property values, enhancing the overall equity position of long-hold investors.
However, it is important to note that the incomplete data on median home values introduces uncertainty. Investors should monitor local economic indicators and housing trends closely to make informed decisions. Despite these challenges, the combination of stable home sales dynamics and potential rental rate increases provides a solid foundation for investment in ZIP 62671.
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.