Section 8 Fair Market Rent (FMR) for ZIP 62972 - 2027

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

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,056

Median Household Income

$84,175

Housing Units

725

Renter Percentage

9.3%

Occupancy Rate

58.1%

Renter Occupied

The ZIP code 62972, located in Southern Illinois, offers a stable environment for real estate investments, particularly for those interested in the rental market. The area is characterized by a mix of residential properties, making it suitable for both homeowners and renters.

Fair Market Rent (FMR): The FMR for ZIP 62972 in fiscal year 2024 is set at $870, providing a benchmark for rental pricing that landlords should consider when setting their rates.
Market Rent: According to Census ACS data, the average market rent in the area is $1,338, indicating a higher demand for rental properties compared to the government-set FMR.
Median Home Value: The median home value in ZIP 62972 is $212,522, reflecting the overall affordability of the housing market and suggesting a relatively low barrier to entry for property purchases.
Renter Share: Renters make up 9.3% of the total population, showing that while the majority prefer homeownership, there is still a significant portion of the market dedicated to renting.
Days on Market (DOM): Unfortunately, the specific data for days on market is currently unavailable, which might indicate a need for further research into local real estate trends to understand listing durations.
Median Income: The median household income in the area is $84,175, providing insight into the economic stability of potential tenants and buyers.

The analysis reveals that ZIP 62972 presents a viable opportunity for real estate investment, especially in the rental sector. With a market rent significantly above the FMR and a median home value that remains within reach for many, the area supports a healthy balance between affordability and profitability. However, the relatively low renter share suggests that landlords must be strategic in their property management to attract and retain tenants. Additionally, understanding the local real estate trends regarding listing durations will be crucial for optimizing investment returns. Overall, the economic stability indicated by the median income supports a steady demand for rental properties, making it a promising area for small-portfolio investors and landlords looking to capitalize on the rental market.

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.