Section 8 Fair Market Rent (FMR) for ZIP 62681 - 2027

Location: Schuyler County, IL | Metro: Schuyler County, IL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$650
1 Bedroom	$850
2 Bedrooms	$930
3 Bedrooms	$1,190
4 Bedrooms	$1,340
5 Bedrooms	$1,554
6 Bedrooms	$1,740
7 Bedrooms	$1,879
8 Bedrooms	$1,973

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,553

Median Household Income

$65,889

Housing Units

2,465

Renter Percentage

23.1%

Occupancy Rate

85.5%

Renter Occupied

487

ZIP code 62681, located in Southern Illinois, offers a stable and modest real estate market suitable for both landlords and small-portfolio investors. The area benefits from a mix of residential and agricultural landscapes, providing a quiet and affordable living environment.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $920. This figure represents the benchmark rental price for government-subsidized housing programs, indicating the minimum acceptable rent level for subsidized units.
The average market rent for properties in ZIP 62681, according to the latest Census ACS data, stands at $839. This suggests that the actual rental prices are slightly below the FMR, reflecting a competitive local market.
The median home value in ZIP 62681 is $131,785. This relatively low value makes it an attractive option for first-time homebuyers and investors looking to purchase properties at a lower cost compared to more urban areas.
Renters make up 23.1% of the population in this ZIP code, indicating a moderate demand for rental properties. However, the presence of renters alongside homeowners provides a balanced market dynamic.
The median household income in ZIP 62681 is $65,889. This figure suggests that while the area is not high-income, there is a sufficient economic base to support rental payments and property values.

Synthesizing these points, ZIP 62681 presents a viable investment opportunity for those interested in a steady but not rapidly growing market. With rental prices below the FMR, there's potential for slight increases without overpricing the market. The moderate renter share and median home value indicate a manageable risk profile, making it suitable for small-portfolio investors seeking stability over explosive growth. The median income supports current rental rates and suggests that the area can sustain modest increases in property costs and rents. Overall, this ZIP code is best suited for investors who prioritize long-term, consistent returns over short-term, high-risk investments.

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.