Location: Wabash County, IL | Metro: Wabash County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
5.5% of the population in ZIP code 62852 are renters, indicating a modest demand for rental properties in the area. In contrast to the median home value being unavailable, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, which serves as a benchmark for rental pricing. Landlords can use this figure to ensure their rents align with what is considered fair and reasonable by HUD standards. The median income of $72,614 provides insight into the financial capabilities of potential tenants, suggesting that those eligible for Section 8 assistance might struggle to cover additional costs beyond the subsidized rent. While the days on market (DOM) and the percentage of price-cut shares are not available, these metrics would typically help gauge the local housing market's competitiveness and the willingness of sellers to reduce their asking prices. Given the limited data, landlords should focus on maintaining properties below the FMR to attract tenants who qualify for Section 8 subsidies without overextending their budgets. This approach ensures a steady occupancy rate while adhering to HUD guidelines.
Landlords in 62852 should also consider the broader economic context when setting rents. With the FMR at $920, it's crucial to balance rental prices with the median income of $72,614 to avoid overpricing and losing out on potential tenants. The 5.5% renter share suggests that while the rental market is not overwhelming, there is still a niche for well-managed and priced rental units. By keeping rents competitive and below the FMR, landlords can position themselves favorably in the Section 8 housing market, ensuring a stable income stream from tenants who benefit from government subsidies.
The verdict for Section 8 participation in ZIP 62852 is positive, given the alignment between the FMR and median income levels, but landlords must remain vigilant in managing property costs to maintain profitability.
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.