Location: Massac County, IL | Metro: Massac County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The Section 8 analysis for ZIP code 62953 reveals a significant gap between the Fair Market Rent (FMR) set at $1,050 and the actual market rent of $754, based on Census ACS data. This discrepancy amounts to a difference of $296 per month, or approximately 38%. Given that the FMR exceeds the market rent, landlords can leverage this situation to their advantage by attracting voucher tenants who can afford higher rents due to the subsidy.
The higher FMR means that voucher holders have the financial backing to pay closer to the $1,050 benchmark, which is notably above the current market rate. For landlords and small-portfolio investors, this makes the area a strong yield play. By renting properties at the FMR level, they can secure higher monthly incomes compared to what the open market currently offers.
In ZIP 62953, where 37.9% of residents are renters and the median household income stands at $41,563, the appeal of Section 8 vouchers is clear. These vouchers provide a reliable source of income for landlords, as they cover the majority of the rent. The median home value being listed as N/A suggests a focus on rental properties over homeownership in this area, further emphasizing the importance of the rental market dynamics.
Landlords should be aware that while the potential for higher yields exists, there are also considerations such as maintenance standards and adherence to HUD regulations. However, the economic benefits are substantial given the gap between FMR and market rent. Investors can expect to see an increase in cash flow by participating in the Section 8 program, effectively turning a lower market rent scenario into a profitable venture.
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.