Location: White County, IL | Metro: Wayne County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The classification of ZIP code 62862 hinges on its financial metrics and the characteristics of its rental market. With a Fair Market Rent (FMR) of $960 for the fiscal year 2026, it stands above the market rate of $823. This indicates a higher potential yield when properties are rented out under the Section 8 program compared to the local market rate. However, the absence of a figure for home value suggests limited data for assessing long-term investment stability through property appreciation.
The stability of the market is partially gauged by the percentage of renters, which is 14.0% in this case. While this figure is low, it does not directly correlate to instability since it only represents the proportion of renters relative to homeowners. Additionally, the lack of a specific days-on-market (DOM) figure means we cannot assess how quickly properties are typically leased in this area. The median household income of $59,125 provides some insight into the economic health of the residents, suggesting that while there is a decent income level, it may not be robust enough to support significant rent increases over time.
Given these factors, ZIP 62862 leans towards being a steady-cashflow zone. The higher FMR compared to the market rate supports a consistent income stream for landlords who can secure Section 8 tenants. However, the relatively low percentage of renters and the unknown rate of property turnover suggest that this is not a high-yield/low-stability flip-style market. Instead, the combination of a moderate income level and a reasonable rental yield points to an environment where landlords can expect stable, if not exceptionally high, returns on their investment without the volatility associated with flipping properties for quick profits.
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.