Location: Wayne County, IL | Metro: Clay County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,160 |
| 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 62899, located within Wayne County, IL metro, is best suited as a cash-flow anchor in a Section 8 portfolio strategy. This designation is based on the significant spread between the Fair Market Rent (FMR) and the local market rental rates.
In fiscal year 2026, the FMR for a metro area like Wayne County, IL, is set at $920. However, the actual market rental rate in ZIP 62899 is much lower, at approximately $494. This means that landlords can expect to receive a higher rent payment through the Section 8 program than what the market would typically offer. With a median home value of $130,855, the difference between the FMR and market rental rates ensures steady cash flow, which is crucial for maintaining profitability in real estate investments.
Given the current market conditions, ZIP 62899 does not present strong opportunities for appreciation or diversification. The data shows a lack of significant price growth or a substantial renter share that would make it an ideal appreciation play or diversifier. Instead, the focus should be on leveraging the guaranteed rental income provided by the Section 8 program to create a stable and predictable revenue stream.
To summarize, ZIP 62899 serves as a reliable cash-flow anchor due to the favorable spread between the FMR and market rental rates. Landlords and small-portfolio investors should consider this ZIP code as a strategic addition to their Section 8 portfolios, ensuring consistent returns despite the lower overall market values.
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.