Location: White County, IL | Metro: Gallatin County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The market in ZIP code 62869 presents a dynamic scenario that reflects both current conditions and underlying trends in housing demand and supply. With a Fair Market Rent (FMR) set at $920 for the fiscal year 2026, the rental market appears to be well-defined, catering to tenants who can afford this level of monthly expenditure. However, the actual market rent, as per the latest Census ACS data, stands at $603. This suggests that there is room for rental rates to rise towards the FMR, indicating potential upward pressure on rents.
The median home value in this area is $122,395, which is relatively low compared to national averages. This figure implies that homeownership remains accessible to a broad range of income levels, potentially attracting first-time buyers and those looking for affordable housing options. The lack of data on the percentage of price cuts and days on market (DOM) makes it challenging to assess the immediate supply-demand balance, but the disparity between the FMR and the current market rent hints at a market where demand could be outpacing supply, especially if there's an expectation for rents to increase.
A significant aspect of the housing dynamics in ZIP 62869 is the 22.3% renter share. This statistic is crucial for understanding the long-term pressures on housing. A higher renter share typically indicates a greater need for rental properties, which can create sustained demand for apartments and houses available for lease. Landlords and small-portfolio investors should take note of this trend, as it suggests that the rental market will likely remain robust over time, supporting steady occupancy rates and potential for rental growth.
In summary, while the exact supply-demand balance is not fully illuminated due to missing data points, the trajectory of rental rates moving towards the FMR and the relatively low median home value suggest a market where demand is strong, particularly among renters. The 22.3% renter share further underscores the importance of the rental sector in this ZIP code, indicating a stable and possibly growing segment of the housing market that landlords should consider when evaluating investment opportunities.
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.