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Madison County/Alhambra/62001

62001

ZIPSAFMR
Madison County, IL
Zillow

ZIP Investment Score

64Below average

095130300
BRFMR
Eff. Rent
0 BR$760$760
1 BR$790$790
2 BR$960$960
3 BR$1,230$1,230
4 BR$1,420$1,420
5 BR$1,633Not available
6 BR$1,878Not available
7 BR$2,160Not available
8 BR$2,484Not available

Purchase Price Calculator

Maximum purchase price
$80,739

Cost breakdown

+Likely effective rent$960
HUD FMRUsed$960
Market rentN/A
Est. payment standardN/A
-Principal and interest-$408
Loan amount$64,591
Down payment$16,148
Rate6.50%
Term30 years
-Operating costs-$352
Property taxes-$81
Insurance-$175
Utilities$0
HOA$0
Management-$96
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,722(97.4% ROI)
Projected value
$86,947
Return breakdown
Property appreciation+$6,208
Loan principal paid down+$2,314
Rental cash flow+$7,200
5-year hold
+$26,737(165.6% ROI)
Projected value
$91,349
Return breakdown
Property appreciation+$10,610
Loan principal paid down+$4,127
Rental cash flow+$12,000
10-year hold
+$56,447(349.6% ROI)
Projected value
$103,353
Return breakdown
Property appreciation+$22,614
Loan principal paid down+$9,833
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 62001 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62001 (Alhambra, IL) is $960 a month. That is down 3.0% from $990 in FY 2026. Alhambra is in the St. Louis, MO-IL HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 37 ZIP codes in Madison County, 62001 is tied for the 35th-highest two-bedroom rent (county range $960–$1,590).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62001
BedroomsFY 2027Change90–110% range
Studio$7600.0%$684–$836
1BR$790−1.2%$711–$869
2BR$960−3.0%$864–$1,056
3BR$1,230−3.1%$1,107–$1,353
4BR$1,420−4.1%$1,278–$1,562

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62001
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$760$790$960$1,230$1,420
FY 2026$760$800$990$1,270$1,480
FY 2025$840$880$1,090$1,410$1,640
FY 2024$680$720$900$1,170$1,370
FY 2023$630$680$860$1,110$1,310

Two-bedroom rent in nearby Madison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62001
62001Current$960—
62002$1,300+35.4%
62010$1,120+16.7%
62012$1,180+22.9%
62018$1,290+34.4%
62021$1,140+18.8%
62024$1,080+12.5%
62025$1,500+56.3%
62026$1,500+56.3%
62034$1,330+38.5%
62035$1,440+50.0%
62040$1,140+18.8%

Questions about ZIP 62001 rents

How much will Section 8 pay for a two-bedroom in ZIP 62001?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $960, that basic range is $864 to $1,056 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 62001 in?

ZIP 62001 is in the St. Louis, MO-IL HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 62001 for FY 2027?

The two-bedroom FMR fell 3.0%, from $990 in FY 2026 to $960 in FY 2027. Since FY 2023 it has risen 11.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentAlhambra, IL fair market rentIL statewide rentsWhat is SAFMR?Data sources