Location: White County, IL | Metro: Gallatin County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The investment landscape for Section 8 properties in ZIP code 62867 presents several challenges that landlords must be aware of. Firstly, tenant turnover is likely to be higher due to the significant gap between the market rent of $490 and the Fair Market Rent (FMR) of $920 for fiscal year 2026 in the metropolitan area. This disparity can lead to frequent changes in occupancy, which increases administrative costs and time spent on screening new tenants.
Vacancy exposure is another critical concern. With the days on market (DOM) being unavailable, it's difficult to predict how long a property might remain vacant between tenancies. This uncertainty can negatively impact cash flow, especially if vacancies occur during periods of high maintenance needs or unexpected repairs.
The deferred-maintenance exposure is also noteworthy. The typical home value in the area is not available, but the median household income stands at $36,845. Given the relatively low income levels, there may be limited financial capacity among tenants to cover additional maintenance costs beyond their rental assistance, potentially leaving landlords to shoulder these expenses alone.
Despite these risks, the high renter share of 25.6% suggests a robust demand for rental properties, including those participating in the Section 8 program. High renter density often translates into greater competition for affordable housing options, increasing the likelihood of finding qualified voucher holders willing to pay the FMR rate.
In summary, the investment risk for a first-time Section 8 landlord in ZIP code 62867 is moderate. While the potential for higher tenant turnover and vacancy exposure exists, the strong renter base provides a solid foundation for maintaining occupancy rates and securing reliable income streams.
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.