Location: Saline County, IL | Metro: Pope County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 62946 in Saline County, IL, reveals a favorable environment for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the metro area, effective for fiscal year 2026, is set at $920. In contrast, the current market rent based on Census ACS data stands at $777, indicating that voucher tenants can cashflow comfortably at the FMR rate without needing premium units.
To further assess the investment potential, consider the median home value in ZIP 62946, which is $86,545. This yields a rent-to-price ratio of approximately 1.06%, calculated by dividing the annualized FMR ($11,040) by the median home value. This ratio suggests that rental income is relatively high compared to property values, making rental properties attractive to investors looking for steady cash flow.
The dynamics between renting and buying in this area are also worth noting. With a median Days on Market (DOM) of N/A and a negligible 0.2% share of homes experiencing price cuts, the real estate market in ZIP 62946 appears stable. This stability is crucial for long-term investors who prioritize consistent returns over speculative gains.
In conclusion, the strongest investor angle in ZIP 62946 is cashflow. The substantial gap between HUD's FMR and the actual market rent, combined with the favorable rent-to-price ratio, makes this area particularly appealing for those seeking reliable rental income from Section 8 properties.
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.