Location: Edwards County, IL | Metro: Edwards County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
The ZIP code 62806, located in Alexander County, Illinois, stands out due to its unique demographic and economic characteristics. With a population of 3,436 residents, it has a relatively low percentage of renters at 22.8%, indicating that homeownership is more prevalent. The median income here is $66,776, which is modest but sufficient for most households. The median home value of $126,216 suggests that housing in this area is affordable, making it an attractive location for both first-time buyers and long-term residents.
Turning to the specifics of Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $940, while the current market rent, based on Census ACS data, is $852. This indicates that there is a slight premium for Section 8 tenants in the area, potentially attracting landlords who wish to capitalize on the higher rental rates offered by the program. However, the difference between the FMR and market rent is not substantial, which means that landlords should not expect a significant increase in their income solely from participating in the Section 8 program.
Based on the data signature of ZIP 62806, the area can be characterized as stable. The modest median income and median home value suggest a community where housing costs are manageable relative to earnings. Additionally, the low percentage of renters implies a preference for homeownership among the residents, which can contribute to long-term stability and investment in property maintenance and improvement. For landlords and small-portfolio investors considering the Section 8 program, the slightly higher FMR compared to the market rent provides a reasonable incentive, but the overall environment remains consistent, favoring those who seek steady, reliable returns rather than speculative gains.
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.