Location: Wayne County, IL | Metro: Jefferson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62851 reveals a unique market position that balances both yield and stability considerations for landlords and small-portfolio investors. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, which is the primary figure for yield assessment since specific market rents and home values are not available. This FMR serves as a benchmark for rental pricing under the Section 8 program, ensuring a predictable income stream.
Stability is assessed through the percentage of renters and median household income. In ZIP 62851, 24.8% of residents are renters, indicating a moderate level of demand for rental properties. The median household income stands at $96,728, which suggests a relatively stable economic environment where tenants are likely to have the financial capacity to meet their rental obligations consistently.
A key metric missing from the provided data is the days on market (DOM), which would offer insights into the speed of property turnover and the competition among buyers. However, based on the available data, ZIP 62851 leans towards being a steady-cashflow zone. The FMR of $970 provides a reliable basis for rental income, while the median income figure supports the likelihood of consistent tenant payments. The 24.8% renter rate indicates a sufficient but not overwhelming demand, avoiding the pitfalls of highly volatile markets.
To summarize, the combination of a defined FMR and a stable median income places ZIP 62851 in a middle-ground scenario, favoring long-term investment strategies over high-risk, high-reward flips. Landlords and small-portfolio investors can expect steady cash flow without the extreme fluctuations seen in high-yield/low-stability markets.
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.