Location: Perry County, IL | Metro: Perry County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
ZIP 62997, located in Perry County, IL metro, should be considered as a cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the area is set at $1,040 for fiscal year 2026, while the current market rent stands at $844. This indicates a spread of $196, meaning that landlords participating in the Section 8 program can expect higher rents compared to the local market. As a result, ZIP 62997 provides a stable and reliable source of income for landlords, helping to balance out portfolios that might include areas with less predictable rental incomes.
The lack of recent home sales data suggests limited activity in the housing market, which further supports the idea of using this ZIP as a cash-flow anchor. With a median income of $54,318, there is a significant portion of the population that would qualify for Section 8 assistance, ensuring a steady demand for subsidized housing units. Additionally, the 21.0% renter share indicates that a considerable segment of the population is already accustomed to renting, making ZIP 62997 a suitable location for long-term rental investments.
Despite the absence of specific data on home appreciation and days on market, the consistent spread between FMR and market rent makes ZIP 62997 an attractive option for landlords looking to secure a stable cash flow within their investment portfolio. This ZIP code is best suited for those who prioritize reliability and predictability over rapid appreciation or short-term gains.
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.