Location: White County, IL | Metro: Hamilton County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 62887, located within the White County, IL metro, has a Fair Market Rent (FMR) of $940 for fiscal year 2026. This figure is key in understanding the rental dynamics of the area compared to other ZIP codes within the same county.
While specific market rent and home value data for ZIP 62887 are not available, we can make some inferences based on the given FMR and the 15.7% renter share. The FMR serves as a benchmark for housing affordability and is often used in determining eligibility for housing assistance programs such as Section 8. In the absence of market rent data, it's reasonable to assume that the actual rents in 62887 might be close to the FMR, although they could be higher or lower depending on local conditions.
The renter share of 15.7% indicates that a significant portion of residents in 62887 are renters. This is an important factor for landlords and small-portfolio investors as it suggests a demand for rental properties. However, without knowing the exact market rent and home values for comparison, it's challenging to definitively classify 62887 as either a value pocket, a mid-tier neighborhood, or a premium sub-market within the White County, IL metro.
A high renter share combined with below-average home values often points to areas where Section 8 vouchers are more prevalent, creating opportunities for landlords who can cater to low-income tenants. Since the home value for 62887 is not available, we cannot confirm if this is indeed the case here. But the high renter share does suggest that there is a notable presence of renters who may rely on housing assistance, making 62887 a potential sweet spot for Section 8 landlords.
To make a more precise determination, additional data such as the average market rent and home values for other ZIP codes in White County would be necessary. Landlords and investors should consider the FMR of $940 as a guideline for setting rents that are likely to attract Section 8 tenants while ensuring 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.