Location: Saline County, IL | Metro: Gallatin County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 62930 suggests a unique opportunity for landlords and small-portfolio investors, particularly in the context of Section 8 properties. With a median home value of $63,237, this area presents an affordable entry point into homeownership, which aligns well with the financial constraints often faced by tenants eligible for Section 8 housing assistance.
The fact that only 0.2% of listings have been reduced indicates a stable market where sellers are confident in their asking prices. This stability, combined with the low median home value, implies that there is significant pricing power on the part of landlords and property owners. They can maintain or even slightly increase rental rates without fear of losing tenants to other properties.
On the rental side, the Federal Market Rent (FMR) for ZIP 62930 is projected at $970 for the fiscal year 2026, while the current market rent stands at $666 according to Census ACS data. This substantial gap suggests that landlords could potentially see a rise in their rental income as the market adjusts to meet the higher FMR levels. However, it's important to note that such adjustments are gradual and depend on local economic conditions and tenant demand.
For long-term investors, the setup in ZIP 62930 does not necessarily imply strong appreciation potential. The low median home value and the limited reduction in listing prices indicate a mature market where growth is steady but modest. While there might be opportunities for capital appreciation, they are likely to be modest compared to more dynamic markets. The primary investment thesis should focus on the potential for increased rental income rather than rapid property value increases.
In summary, the current data points towards a market where landlords and small-portfolio investors can leverage their pricing power to secure steady rental incomes. The gap between the current market rent and the projected FMR offers a clear path for adjusting rental rates over time. However, appreciation expectations should be tempered given the stable and mature nature of the housing market in ZIP 62930.
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.