Location: Saline County, IL | Metro: Saline County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
The ZIP code 62977 in Saline County, IL, presents a unique position within its local market. With a Fair Market Rent (FMR) of $980 for fiscal year 2026, it stands below the market rent of $1,673, indicating that it offers more affordable rental options compared to other areas in the county. The median home value in 62977 is $143,834, which is also lower than the average for Saline County, IL.
The renter share in 62977 is 15.0%, suggesting a moderate concentration of renters. However, when juxtaposed against the overall Saline County ZIP codes, this percentage can signal a potential sweet spot for Section 8 properties. A higher renter share combined with below-average home values often points towards a value pocket where government-subsidized housing can be particularly advantageous.
To determine if 62977 is a value pocket, mid-tier neighborhood, or a premium sub-market, we must consider the FMR and home values. Given the FMR of $980 and the market rent of $1,673, 62977 clearly leans towards being a value pocket. This is further supported by the lower home values, making it an area where landlords can find more affordable properties to manage under the Section 8 program.
The divergence between the relatively low home values and the moderate renter share suggests that 62977 could indeed be a prime location for Section 8 investments. Landlords and small-portfolio investors should take note of these figures as they indicate a potentially lucrative opportunity for acquiring and managing rental properties at a cost-effective rate while still benefiting from government subsidies.
In summary, ZIP 62977 in Saline County, IL, appears to be a value pocket within its metro, characterized by below-average rents and home values alongside a moderate renter share. These factors make it an attractive option for those interested in Section 8 properties, offering a balance between affordability and the presence of tenants eligible for federal housing assistance programs.
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.