Location: Jefferson County, IL | Metro: Franklin County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,230 |
| 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)
The ZIP code 62836 presents an interesting scenario for both renters and landlords. The median household income here stands at $73,281, which is relatively robust compared to many other areas. However, the market rate for rent is set at $1,042 according to the Census Bureau's American Community Survey (ACS), making it a challenge for the average household to find affordable housing without assistance.
In contrast, the Fair Market Rent (FMR) standard for Section 8 vouchers in the metro area for fiscal year 2026 is pegged at $950. This means that households receiving Section 8 assistance can find rental units that are significantly more affordable than the market rate. The difference between the market rate and the FMR indicates a notable affordability gap for renters in this ZIP code.
Given that only 11.9% of the population are renters and the total population is 891, the competition among landlords for tenants could be quite fierce. Landlords who accept Section 8 vouchers might find themselves with a steady stream of interested tenants, given the financial relief these vouchers provide. On the other hand, landlords who prefer cash-paying tenants should be prepared for a smaller pool of potential renters willing to pay the higher market rates.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a strategic advantage in attracting and retaining tenants in ZIP 62836. While the income level is decent, the disparity between market rents and the FMR suggests that many renters would lean towards properties that accept vouchers to manage their housing costs effectively. For those who opt to seek out cash-paying tenants, they must ensure their properties offer exceptional value to justify the higher rent prices.
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.