Location: Williamson County, IL | Metro: Franklin County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,480 | $157,578 | 0.94% | C |
U.S. Census Bureau data (2024)
ZIP code 62948 hosts a population of 12,758 individuals, with 33.7% of residents being renters. The median household income in this area stands at $60,975. This indicates that while there is a significant rental market, it is not overwhelmingly dominated by renters. The presence of a substantial number of renters suggests a reasonable demand for housing assistance through Section 8 vouchers.
The typical market rent of $1,000 in ZIP 62948 equates to approximately 1.64% of the median household income per month. This percentage is calculated by dividing the monthly rent by the annual median income and multiplying by 100. Specifically, $1,000 divided by $60,975 equals about 0.0164, or 1.64%. This figure implies that the average rent consumes a relatively small portion of the median income, making it generally affordable for most households.
The Fair Market Rent (FMR) for ZIP 62948 is set at $1,000 for FY 2024, aligning closely with the actual market rent. This parity between the FMR and market rent means that tenants with Section 8 vouchers can find housing that matches their voucher amount without much difficulty. Landlords in this ZIP code should be aware that the rental market is competitive, and offering units that match the FMR will attract a steady stream of potential tenants.
The tenant profile landlords should expect includes individuals and families who benefit from the Section 8 program. These tenants will likely have an income below the median, possibly around $40,000 to $50,000 annually, which would make up the majority of the voucher recipients. Given the rental makeup of the ZIP code, landlords can anticipate a mix of low-income tenants seeking assistance and middle-income renters who do not require subsidies but still find the rental costs manageable.
To summarize, ZIP 62948 presents a balanced rental market with a notable share of renters, suggesting a viable pool for Section 8 tenants. The alignment of market rents with the FMR ensures that voucher holders can access suitable housing, while the overall affordability of rent relative to income levels supports a diverse tenant base.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.