Section 8 Fair Market Rent (FMR) for ZIP 62890 - 2027

Location: Williamson County, IL | Metro: Franklin County, IL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$850
1 Bedroom	$940
2 Bedrooms	$1,220
3 Bedrooms	$1,610
4 Bedrooms	$1,700
5 Bedrooms	$1,972
6 Bedrooms	$2,209
7 Bedrooms	$2,386
8 Bedrooms	$2,505

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,377

Median Household Income

$54,271

Housing Units

1,100

Renter Percentage

28.4%

Occupancy Rate

89.9%

Renter Occupied

281

The ZIP code 62890, located in Illinois, is a modest suburban area with a mix of rental and owner-occupied housing. It offers a stable environment for both landlords and small-portfolio investors looking to enter the real estate market without the volatility often seen in larger urban centers.

The Fair Market Rent (FMR) for ZIP 62890 in fiscal year 2024 is set at $1030. This figure represents the maximum amount that low-income families should pay for housing to be considered affordable.
The average market rent for properties in this ZIP code, according to Census ACS data, stands at $755. This indicates that there is potential for rental income growth if properties can be managed efficiently to reach closer to the FMR levels.
The median home value in ZIP 62890 is $155,220. This relatively low valuation suggests that there could be opportunities for investors to acquire properties at a lower cost compared to more affluent areas.
Renters make up 28.4% of the population in this ZIP code. This significant portion of renters shows a steady demand for rental properties, making it a viable market for landlords.
The median income for residents in ZIP 62890 is $54,271. This income level is crucial for assessing the ability of tenants to afford higher rents, which could be leveraged by savvy investors to increase rental yields.
The Days on Market (DOM) data is currently N/A, indicating that either there isn't enough recent transaction data available or the real estate market in this area is less active, possibly due to seasonal factors or other local conditions.

Investors considering entering the market in ZIP 62890 will find a blend of affordability and stability. With a substantial renter population and median home values below the national average, there is a solid foundation for rental investments. The gap between the market rent and the FMR presents an opportunity for increasing rental income through efficient property management. However, the lack of DOM data suggests caution in timing purchases and rentals, ensuring that any investment aligns with the local economic realities and tenant demands.

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.