Location: Williamson County, IL | Metro: Williamson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 62915 presents a unique opportunity for landlords and small-portfolio investors, especially when considering both the housing and rental dynamics.
With the median home value currently unspecified, it's crucial to look at other metrics to understand the market's direction. The data shows that an unspecified percentage of listings have been reduced, indicating a slight shift towards seller concessions or price adjustments. This, coupled with an unspecified number of days as the median days on market (DOM), suggests a balanced market where neither buyers nor sellers hold significant pricing power. However, this equilibrium could change as we move through the next 12-24 months.
On the rental side, the Fair Market Rent (FMR) for ZIP 62915 in fiscal year 2024 is set at $1090, whereas the current market rent is around $750 according to Census ACS data. This gap signals potential upward pressure on rental rates, as landlords might seek to align their rents with the FMR to maximize income. Investors should prepare for adjustments in rental pricing that reflect this trend, potentially leading to higher occupancy costs for tenants and increased cash flows for property owners.
For long-term investors, the setup implied by these figures points to a moderate appreciation thesis. While the median home value is not specified, the movement towards higher rental rates suggests that the overall cost of living in the area could increase. As rental prices rise to meet the FMR, they often drive up the perceived value of homes, which can lead to gradual increases in home values as well. This dynamic supports the idea that properties held for extended periods may see some appreciation, although the exact rate is uncertain due to the incomplete data on current home values.
Investors must remain vigilant to market shifts and adjust their strategies accordingly. The current balance between buyer and seller power, combined with the potential for rising rental rates, creates a scenario where steady, modest growth is likely. However, the lack of specific data on median home values and DOM percentages means that caution is advised until clearer trends emerge.
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.