Location: Pope County, IL | Metro: Johnson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $770 |
| 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 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 62985 are straightforward. The SAFMR (Standard Amount for Fair Market Rent) for a two-bedroom apartment is set at $910 per month for the fiscal year 2024. This rate is specifically tailored for this ZIP code, reflecting the unique rental market conditions here.
Section 8 operates on a voucher system where tenants pay a portion of their income towards rent, typically 30%. The remaining balance is covered by the voucher. However, the total reimbursement cannot exceed the SAFMR. Let's break down what this means for a landlord:
Note that the voucher also includes allowances for utilities, but these are separate from the base rent amount. The exact utility allowance can vary based on the season and local rates, so landlords should check with the local housing authority for precise figures.
In ZIP 62985, there is no data available on the local market rent, which makes it challenging to compare the SAFMR to typical rental prices in the area. However, given the SAFMR of $910, landlords should expect that the voucher reimbursement will be capped at this amount regardless of the tenant's income.
To summarize, for a two-bedroom apartment in ZIP 62985, the typical reimbursement gap or surplus would depend on the actual market rent. Since we do not have the market rent figure, it's impossible to determine if there is a surplus or a gap. However, landlords should understand that the maximum reimbursement they can receive under the Section 8 program for a two-bedroom unit is $910 per month.
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.