Location: Scott County, IL | Metro: Greene County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,110 |
| 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 economics of Section 8 housing in ZIP code 62694 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $920 per month for fiscal year 2026. This figure represents the maximum amount that the federal government will reimburse landlords for a two-bedroom unit under the Housing Choice Voucher program. However, it's important to note that the local market rent for a similar unit is significantly lower, running at an average of $672 per month, according to the Census ACS data.
A landlord participating in the Section 8 program should understand that the reimbursement they receive is calculated based on the SAFMR minus the tenant's portion of the rent, which is typically 30% of their income, plus any applicable utility allowances. For example, if a tenant's portion is $200 and the utility allowance is $100, the total reimbursement would be $920 - $200 + $100 = $820. This means the landlord would receive $820 from the program and $200 from the tenant, totaling $1,020.
Given the local market rent of $672, a landlord accepting a Section 8 voucher for a two-bedroom unit would generally see a surplus. In this case, the surplus would be $1,020 - $672 = $348 per month. This surplus provides a buffer for landlords who might otherwise be concerned about receiving less than the market rate.
To summarize, landlords in ZIP 62694 can expect the Section 8 program to pay up to $920 for a two-bedroom unit, with the actual payment being influenced by the tenant's portion and utility allowances. Considering the local market rent of $672, landlords will typically find themselves with a positive cash flow of $348 per month above the local market rate when accepting a voucher for a two-bedroom apartment.
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.