Location: Wabash County, IL | Metro: Edwards County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
21.4% of residents in ZIP 62818 are renters, indicating a significant demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930, which is notably higher than the market rent of $871 based on Census ACS data. This suggests that Section 8 vouchers could cover a substantial portion of the rental costs for eligible tenants. With a median home value of $102,132, the area offers an affordable entry point for both homeowners and investors looking to purchase rental properties. However, the median income of $58,523 is relatively low, which could limit the number of potential non-voucher tenants who can afford the market rent. Despite this, the absence of day DOM (Days On Market) and price-cut share data indicates that the rental market is stable and does not suffer from prolonged vacancy periods or frequent price adjustments. In conclusion, the combination of a high FMR compared to market rent and a considerable renter share makes ZIP 62818 a favorable location for landlords and small-portfolio investors interested in Section 8 participation.
Section 8 Verdict: Favorable
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.