Location: Marion County, IL | Metro: Marion County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The ZIP code 62807 stands out due to its unique demographic and economic characteristics. With only 767 residents, it has a rental rate of 11.5%, indicating that most residents own their homes. The median income in ZIP 62807 is $82,321, which is relatively high compared to national averages. Additionally, the median home value is $128,867, suggesting that homeownership is both attainable and valued in this area.
When examining the economics of Section 8 vouchers in ZIP 62807, the disparity between the Fair Market Rent (FMR) and the actual market rent becomes apparent. For fiscal year 2026, the FMR for the metro area is set at $920. However, the Census ACS data reveals that the average market rent is only $534. This significant gap means that landlords participating in the Section 8 program can expect to receive higher rents than what is typically charged in the local market. Consequently, landlords can benefit from the additional financial support offered by the program without facing the typical challenges associated with lower reimbursement rates.
The data signature for ZIP 62807 reads as stable. Despite the low percentage of renters, the high median income supports a steady demand for housing, whether rented or owned. The consistent median home value also suggests that property values have remained stable over time, providing a reliable investment environment for small-portfolio investors. The favorable economics of the Section 8 voucher program further reinforce this stability, offering landlords a predictable source of income that exceeds the local market rate.
To summarize, ZIP 62807 offers a stable investment climate with a strong median income and home values. The economics of the Section 8 program, particularly the discrepancy between the FMR and market rent, make participation in the program financially advantageous for landlords. This combination of factors presents an attractive opportunity for both landlords and small-portfolio investors looking to enter or expand in this ZIP code.
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.