Location: Marion County, IL | Metro: Jefferson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
ZIP code 62893, located within the Marion County, IL metro area, presents a unique set of characteristics when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for 62893 is $1,030 for fiscal year 2026, which exceeds the average market rent of $918. This indicates that properties in 62893 are generally priced higher on the rental market, potentially due to government-set standards.
The median home value in 62893 is $186,476, which is slightly above the average for the county. However, the renter share in this ZIP code is 16.7%, a figure that stands out as it is notably higher than the typical percentage seen in other ZIP codes within Marion County. This suggests that there is a significant portion of the population renting rather than owning homes in 62893.
Based on these figures, ZIP code 62893 can be classified as a mid-tier neighborhood within the Marion County, IL metro. The FMR being higher than the market rent points to an area where Section 8 vouchers might play a substantial role in the rental market, making it attractive for landlords who qualify for such programs. The higher-than-average renter share combined with below-average home values could signal a potential sweet spot for Section 8 housing, as it attracts tenants who rely on rental assistance programs.
To summarize, landlords and small-portfolio investors should consider 62893 as a mid-tier neighborhood with a slight lean towards being a value pocket for those interested in Section 8 rentals. The higher FMR and significant renter share make it a favorable location for properties eligible under the Section 8 program.
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.