Location: Williamson County, IL | Metro: Williamson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62921 reveals several key points regarding its suitability for investment in rental properties.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for ZIP 62921 in fiscal year 2024 is set at $820. However, the Census American Community Survey (ACS) reports a market rent of only $99. This stark contrast suggests that the rent math does not work in this area; the actual market rent is significantly lower than the FMR, indicating potential challenges in covering operating costs and generating profit.
Regarding the affordability of property acquisitions, the data indicates that the median home value is N/A, and there is insufficient information on days-on-market (DOM) and the percentage of homes experiencing price cuts. These missing data points make it difficult to assess the ease of acquiring properties at affordable prices in ZIP 62921.
The third question concerns tenant demand. With a population of 233 individuals and a renter share of 22.6%, the pool of potential tenants is limited. Given the low population count, even a significant portion of renters translates into a small number of actual renters, which could affect the ability to consistently fill rental units.
Verdict: ZIP 62921 presents a challenging investment environment due to the mismatch between FMR and actual market rents, the lack of detailed acquisition cost data, and the limited tenant demand. Landlords and small-portfolio investors should proceed with caution, considering these factors carefully before making any investment decisions in this area.
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.