Location: Pope County, IL | Metro: Pope County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 62928 presents an interesting opportunity for real estate investors, particularly those focused on Section 8 properties. With a Fair Market Rent (FMR) of $1,090 for the metro area in fiscal year 2026, it significantly outpaces the market rent at $492. This suggests a high-yield potential for properties that qualify under the Section 8 program, given the substantial gap between the FMR and typical market rates.
The stability of the rental market in ZIP 62928 is also noteworthy. Approximately 55.2% of residents are renters, indicating a robust demand for rental housing. While the days on market (DOM) figure is not available, the median household income stands at $27,955, which aligns with the income levels typically associated with Section 8 tenants. This combination of high tenant demand and income levels consistent with Section 8 eligibility supports a steady cash flow scenario for landlords who can secure Section 8 contracts.
Given these factors, ZIP 62928 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The significant difference between the FMR and market rent implies that properties under Section 8 could generate higher yields compared to traditional market rentals. However, the strong rental presence and income levels indicative of a stable tenant base suggest that the market is not volatile but offers reliable returns. For small-portfolio investors, this could be an ideal location to focus on securing Section 8 properties for consistent, if not exceptionally high, rental income.
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.