Location: Union County, IL | Metro: Pulaski County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62926 in Union County, Illinois, reveals several key points for landlords and small-portfolio investors.
Firstly, the rent math does not work favorably. The Fair Market Rent (FMR) for the area, set at $920 for fiscal year 2026, is significantly higher than the actual market rent reported by the Census ACS, which stands at $656. This discrepancy suggests that landlords may struggle to charge rents at the FMR level without facing vacancy issues.
Secondly, the acquisition cost in the area is relatively low, with a median home value of $143,964. However, the lack of data on days on market (DOM) and the percentage of homes that have been listed with a price cut indicates an incomplete picture of the local housing market's dynamics. Investors should proceed cautiously until more comprehensive data is available.
Lastly, tenant demand is present but limited. With a total population of 1,998, the renter share is 18.5%. This means that approximately 370 residents are likely to be renters. While this provides a baseline of potential tenants, the small number of people in the area could pose challenges for maintaining a consistent tenant pool.
In summary, while the median home value offers a potentially affordable entry point into the real estate market of ZIP 62926, the mismatch between the FMR and the actual market rent, along with the limited tenant base, makes the area less attractive for investment. Landlords must carefully consider these factors before committing to property acquisitions in this region.
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.