Section 8 Fair Market Rent (FMR) for ZIP 62726 - 2027

FY 2027 Fair Market Rent Rates

To classify ZIP code 62726 in Unknown, Illinois, based on yield and stability, we need to consider several factors including the Fair Market Rent (FMR), local market conditions, home values, renter demographics, and median income levels.

The Fair Market Rent for ZIP 62726 as of the fiscal year 2024 is set at $1070. This figure is critical in determining potential rental yields since it represents the maximum amount that can be charged under the Section 8 program. However, without specific data on the local market rents and home values, we cannot fully assess the yield potential. Typically, if the FMR is higher than the average market rent, there is an opportunity for higher yields through Section 8 tenancy.

Moving to stability, we require additional metrics such as the percentage of renters, the days on market (DOM) for properties, and the median household income. These figures would provide insight into the financial health of tenants and the demand for rental housing in the area. Unfortunately, these particular data points are currently unavailable, which makes it challenging to evaluate the stability of the market.

In summary, ZIP 62726 appears to offer a defined yield opportunity due to the known FMR of $1070, but the lack of comprehensive local market data and tenant stability indicators prevents a full classification. It is neither conclusively a high-yield/low-stability flip-style market nor clearly a steady-cashflow zone. Further investigation into local rental trends and economic conditions is necessary to make a more precise determination.

Data Sources: FMR data from HUD (2027).

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.