Section 8 Fair Market Rent (FMR) for ZIP 62815 - 2027

Location: Edwards County, IL | Metro: Edwards County, IL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$650
1 Bedroom	$710
2 Bedrooms	$930
3 Bedrooms	$1,110
4 Bedrooms	$1,220
5 Bedrooms	$1,415
6 Bedrooms	$1,585
7 Bedrooms	$1,712
8 Bedrooms	$1,798

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

350

Median Household Income

$63,750

Housing Units

151

Renter Percentage

18.8%

Occupancy Rate

91.4%

Renter Occupied

ZIP code 62815, located within the Edwards County, IL metro, presents an interesting case when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 62815 is set at $920 for fiscal year 2026, which is notably higher than the market rent figure of $480. This discrepancy suggests that ZIP 62815 could be considered a value pocket for Section 8 participants.

The market rent being significantly lower than the FMR indicates that there are opportunities for affordable housing options that still fall within the subsidy limits. However, it's important to note that the home value data is not available, which makes direct comparisons challenging. Nonetheless, the 18.8% renter share is a key indicator. A higher percentage of renters combined with lower market rents can often signal a sweet spot for landlords participating in the Section 8 program.

Fair Market Rent (FMR): $920 - This is the amount HUD uses to determine payment standards for the area. It's higher than the actual market rent, suggesting a potential for subsidies to cover more of the rental costs.
Market Rent: $480 - This is the average rent paid by tenants in the area. It's well below the FMR, indicating that landlords who rent properties at or near this price could attract Section 8 tenants without financial strain.
Renter Share: 18.8% - This percentage represents the proportion of households that rent their homes. While not exceptionally high, it's significant enough to suggest a decent demand for rental properties.

Given the specific figures, ZIP 62815 appears to be a value pocket within the Edwards County, IL metro. Landlords and small-portfolio investors should consider this ZIP code for potential Section 8 investments, especially if they can offer units at or around the $480 market rent level. This would allow them to benefit from the higher FMR while providing affordable housing to eligible tenants.

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.