Section 8 Fair Market Rent (FMR) for ZIP 62958 - 2027

Location: Williamson County, IL | Metro: Jackson County, IL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$840
2 Bedrooms	$1,040
3 Bedrooms	$1,350
4 Bedrooms	$1,400
5 Bedrooms	$1,624
6 Bedrooms	$1,819
7 Bedrooms	$1,965
8 Bedrooms	$2,063

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,103

Median Household Income

$65,833

Housing Units

1,017

Renter Percentage

27.7%

Occupancy Rate

92.6%

Renter Occupied

261

The ZIP code 62958, located in Southern Illinois, is characterized by a stable economy and a mix of residential and agricultural landscapes. The area is known for its affordable living conditions and a moderate demand for rental properties.

Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 62958 for fiscal year 2024 is set at $920. This figure serves as a benchmark for rental pricing in the area, ensuring that rents remain within reasonable limits for most residents.
The average market rent for a similar unit, according to Census ACS data, stands at $907. This indicates that the local rental market closely aligns with government standards, providing a predictable environment for landlords.
The median home value in the area is $185,742. This reflects a modest property value, which can be attractive for investors looking for lower entry costs and steady appreciation potential.
Renters make up 27.7% of the housing market in ZIP 62958. This suggests a significant portion of the population prefers renting over owning, creating a consistent demand for rental properties.
The median household income in the area is $65,833. This level of income supports a moderate rental market, where tenants can afford the FMR without significant financial strain.

Investors considering the ZIP 62958 market should take note of the alignment between the Fair Market Rent and the actual market rent, indicating a balanced rental market. The relatively low median home value offers a good opportunity for investment at a lower cost compared to other regions. With a quarter of the households choosing to rent, there is a solid base of potential tenants. Given the median income levels, tenants are likely to be financially stable, reducing the risk of default. Overall, ZIP 62958 presents a favorable environment for landlords and small-portfolio investors seeking a stable and predictable market with manageable risks and returns.

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.