Location: Macoupin County, IL | Metro: Macoupin County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 62672 is situated in a rural area of Illinois, characterized by a modest population size of 1,510 residents. Only 4.6% of these residents are renters, indicating a predominantly owner-occupied community. The median household income stands at $46,771, reflecting a middle-class demographic. Notably, there is no available data on the median home value, which suggests that the real estate market in this area may be less active compared to urban centers.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP code 62672 is set at $1,010 for fiscal year 2024. This figure represents the benchmark for housing costs under the Section 8 program. However, the lack of specific market rent data makes it challenging to directly compare FMR with local rental rates, potentially indicating a limited supply of rental properties in the area.
Given the characteristics of ZIP 62672, it would likely suit a hands-off voucher operator more than a hands-on value-add buyer. The low percentage of renters and the absence of detailed market rent data suggest a market where the demand for rental properties is minimal. Therefore, an investor focused on maximizing returns through active property management and renovations might find limited opportunities for significant impact. Conversely, a hands-off operator who can secure a steady stream of Section 8 tenants could benefit from the predictability of government-subsidized rents without the need for extensive property improvements or marketing efforts.
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.