Location: White County, IL | Metro: Hamilton County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
14.5% of residents in ZIP 62835 are renters, indicating a modest demand for rental properties. The market rent for the area, as reported by the Census ACS, stands at $664 per month, significantly below the Fair Market Rent (FMR) set by HUD at $920 for metro FY 2026. This discrepancy suggests potential for rental income growth if properties are priced closer to the FMR. The median home value in ZIP 62835 is $96,749, which is relatively low compared to national averages, making it an affordable market for both investment and owner-occupied homes. However, the median income of $49,628 may limit the financial flexibility of tenants, necessitating a focus on affordability and stability in rental offerings.
The absence of data regarding the days on market (DOM) and the percentage of price-cut share indicates a lack of recent sales activity or a stable housing market where significant price adjustments are uncommon. For landlords and small-portfolio investors, this means that once a property is rented out, there's a good chance of maintaining steady occupancy without frequent turnover or price negotiations.
In conclusion, ZIP 62835 presents an opportunity for investors looking to capitalize on the gap between current market rents and HUD's FMR. With a median home value of $96,749 and a median income of $49,628, the area supports affordable housing, which is crucial for attracting and retaining tenants. The modest 14.5% renter share implies that competition among landlords might be lower, but also suggests that expanding the rental base could require strategic marketing and pricing. Given these factors, ZIP 62835 is Section 8 eligible.
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.