Location: Jackson County, IL | Metro: Jackson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
840 FMR (Fair Market Rent) for ZIP 62950 indicates the maximum rental amount allowed under the Section 8 program for fiscal year 2024. This figure represents a critical benchmark for landlords and small-portfolio investors looking to participate in the program. 0.0% renter share suggests that there are virtually no renters in the area, which could imply a strong owner-occupied market. However, this does not necessarily mean that rental opportunities are scarce, especially given the availability of government-subsidized programs like Section 8.
$69,722 median income in ZIP 62950 reflects the economic conditions of the residents, which can impact their ability to afford housing without assistance. While the market rent and median home value are not available, the lack of these figures might indicate limited data on recent transactions, suggesting a stable or less volatile real estate market. The N/A-day DOM (Days On Market) and N/A% price-cut share further support this idea, indicating that homes are likely selling quickly and at or near asking price, without the need for significant discounts.
In ZIP 62950, landlords can set rents up to $840 to remain competitive with the Section 8 program. Given the low renter share, it's possible that demand for subsidized rentals is high among those who qualify for assistance. This scenario presents an opportunity for landlords to fill a niche market where traditional renting is less common. With the median income being $69,722, it's clear that some residents may struggle to find affordable housing without subsidies, making Section 8 a valuable resource for both tenants seeking affordable housing and landlords looking to secure long-term, stable tenancies.
The absence of recent market data points to a potentially less active real estate market, but this stability can be advantageous for investors seeking consistent returns. The quick sales and lack of price-cutting suggest a robust local economy that supports property values, even if rental activity is minimal.
Verdict: ZIP 62950 is a suitable location for Section 8 participation, offering stable property values and a potential niche for subsidized rentals.
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.