Location: Williamson County, IL | Metro: Saline County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
21.7% of residents in ZIP code 62917 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the area, set at $960 for zip FY 2024, represents the maximum amount that landlords can charge tenants participating in the Section 8 program. This figure is notably higher than the average market rent reported by the Census ACS, which stands at $525, suggesting that Section 8 rentals can offer a premium over typical market rates. However, the median home value in the area is $74,398, which might influence the types of homes available for Section 8 participation, potentially favoring more affordable units.
The median income of $50,119 in ZIP 62917 provides context for the financial landscape, where Section 8 can play a crucial role in making housing accessible for lower-income families. While the data does not provide a specific Days on Market (DOM) or a percentage of price-cut shares, these metrics are typically indicative of how quickly and easily properties sell, and without them, we must rely on other indicators such as renter share and median income to gauge market dynamics.
In conclusion, the disparity between the Section 8 FMR of $960 and the average market rent of $525 presents an opportunity for landlords and small-portfolio investors to secure higher rental incomes while providing affordable housing options. Given the median home value and median income, Section 8 remains a viable and profitable option for investment in ZIP 62917.
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.