Location: Williamson County, IL | Metro: Jackson County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $950 | $81,214 | 1.17% | B |
| 3BR | $1,240 | $150,433 | 0.82% | C |
U.S. Census Bureau data (2024)
ZIP code 62901, located in Carbondale, IL, sits within the Williamson County, IL metro area. Its Fiscal Year 2024 Fair Market Rent (FMR) is set at $980, which is higher than the average market rent of $823. This suggests that the zip code may be slightly overvalued compared to what the market typically offers, but it's still within a reasonable range for investors.
The median home value in 62901 stands at $119,696, indicating that it is likely a value pocket within the broader metro area. This figure is lower than the typical home values in other ZIP codes of Williamson County, which can range significantly higher. A lower home value combined with a higher FMR could make this area attractive to landlords and small-portfolio investors looking for affordable properties with decent rental income potential.
A key factor to consider is the 70.0% renter share in 62901. This high percentage of renters relative to homeowners is a significant indicator that the area might be particularly suitable for Section 8 housing. High renter share coupled with below-average home values often points to a sweet spot for Section 8 investments, where there is a strong demand for subsidized housing and the cost of entry into the real estate market is relatively low.
To further contextualize these figures, let's look at how they compare to the broader metro area. The FMR of $980 is a benchmark for rental assistance in the area, meaning that landlords who participate in Section 8 programs can expect to receive this amount per unit. Given that the market rent is $823, landlords who are not participating in Section 8 might find it challenging to compete on price without sacrificing quality.
In summary, ZIP code 62901 appears to be a value pocket within the Williamson County, IL metro. It has a higher FMR than market rent, a lower home value than typical ZIP codes in the county, and a notably high renter share. These factors suggest that it could be an ideal location for Section 8-related real estate investments, offering a balance between affordability and rental income potential.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.