Location: Washington County, IL | Metro: Washington County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 62876 in Washington County, IL, presents an interesting snapshot when compared against the broader county metrics. With a Fair Market Rent (FMR) of $1,030 for fiscal year 2026, it aligns closely with the metro area's standards, indicating that rental properties here are priced at a level consistent with the surrounding region. However, the market rent figure stands slightly below the FMR at $992, suggesting a minor discount on actual rental costs relative to what might be expected.
A notable point is the absence of specific home value data for ZIP 62876. This lack of information could imply several things: either the area is predominantly rental-focused, or there is insufficient data to provide a reliable average home value. Given the context of being a Section 8 real-estate analyst, the former seems more plausible, as it would support the idea of a higher proportion of renters over homeowners.
The renter share in ZIP 62876 is 17.9%, which is a significant portion of the population. When juxtaposed with the overall metro area, this percentage can help identify trends. If the metro area has a lower average renter share, then ZIP 62876 stands out as having a higher concentration of renters, possibly due to factors such as affordability or a larger presence of subsidized housing.
Given the below-metro FMR and market rent figures, along with a notable renter share, ZIP 62876 appears to be a value pocket within the Washington County, IL, metro. It offers landlords and small-portfolio investors a chance to capitalize on a market where rental prices are slightly discounted but still supported by a substantial number of potential tenants. The high renter share, coupled with the lower-than-average rental costs, suggests a strong alignment with Section 8 criteria, making it a particularly attractive location for those looking to participate in the federal housing assistance program.
To summarize, the combination of slightly below-average rental prices and a significant renter share positions ZIP 62876 as a value pocket in the Washington County, IL, metro. This makes it an advantageous area for landlords and investors seeking to enter the Section 8 market, given the inherent demand and pricing structure.
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.