Location: Jackson County, IL | Metro: Jackson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 62975 in fiscal year 2024 is set at $880. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the rent you'll receive; it's the benchmark used to determine eligibility and the rent subsidy amount.
Local market rents in ZIP 62975 are currently listed as N/A, which makes direct comparisons challenging. However, given that 17.1% of the residents in this area are renters, there is a notable demand for affordable housing options. The high percentage of renters indicates a significant portion of the population that might qualify for the Section 8 program, potentially making these tenants reliable and steady sources of income.
Acquisition costs for properties in this ZIP code are also noted as N/A, meaning specific data on property values isn't available. Despite this lack of detail, landlords should consider the FMR when setting their asking price for a Section 8 rental. The $880 FMR suggests that any property valued higher than this might struggle to attract eligible tenants.
Before deciding to participate in the Section 8 program with a rental in ZIP 62975, verify that your property meets all the required standards and specifications. This includes ensuring that the rent is below the $880 limit and that the unit passes a Housing Quality Standards (HQS) inspection. These steps are crucial for compliance and securing long-term tenants.
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.