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Madison County/Cottage Hills/62018

62018

ZIPSAFMR
Madison County, IL
Zillow

ZIP Investment Score

158High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,020$840
1 BR$1,060$920
2 BR$1,290$1,050
3 BR$1,660$1,460
4 BR$1,910$1,570
5 BR$2,197Not available
6 BR$2,526Not available
7 BR$2,905Not available
8 BR$3,341Not available

Purchase Price Calculator

Maximum purchase price
$94,113

Cost breakdown

+Likely effective rent$1,050
HUD FMR$1,290
Market rentUsed$1,050
Est. payment standard (90%)$1,160
-Principal and interest-$476
Loan amount$75,290
Down payment$18,823
Rate6.50%
Term30 years
-Operating costs-$374
Property taxes-$94
Insurance-$175
Utilities$0
HOA$0
Management-$105
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,134(91.0% ROI)
Projected value
$101,349
Return breakdown
Property appreciation+$7,236
Loan principal paid down+$2,697
Rental cash flow+$7,200
5-year hold
+$29,178(155.0% ROI)
Projected value
$106,480
Return breakdown
Property appreciation+$12,367
Loan principal paid down+$4,810
Rental cash flow+$12,000
10-year hold
+$61,822(328.4% ROI)
Projected value
$120,473
Return breakdown
Property appreciation+$26,360
Loan principal paid down+$11,462
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.21
1 BR
1.15
2 BR
1.23
3 BR
1.14
4 BR
1.22
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 62018 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62018 (Cottage Hills, IL) is $1,290 a month. That is up 11.2% from $1,160 in FY 2026. Cottage Hills 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, 62018 has the 10th-highest two-bedroom rent (county range $960–$1,590). The median county two-bedroom FMR in Illinois is $958, so ZIP 62018 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62018
BedroomsFY 2027Change90–110% range
Studio$1,020+12.1%$918–$1,122
1BR$1,060+11.6%$954–$1,166
2BR$1,290+11.2%$1,161–$1,419
3BR$1,660+11.4%$1,494–$1,826
4BR$1,910+10.4%$1,719–$2,101

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62018
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,020$1,060$1,290$1,660$1,910
FY 2026$910$950$1,160$1,490$1,730
FY 2025$880$920$1,130$1,460$1,680
FY 2024$810$850$1,060$1,370$1,590
FY 2023$640$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. 62018
62001$960−25.6%
62002$1,300+0.8%
62010$1,120−13.2%
62012$1,180−8.5%
62018Current$1,290—
62021$1,140−11.6%
62024$1,080−16.3%
62025$1,500+16.3%
62026$1,500+16.3%
62034$1,330+3.1%
62035$1,440+11.6%
62040$1,140−11.6%

Questions about ZIP 62018 rents

How much will Section 8 pay for a two-bedroom in ZIP 62018?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,290, that basic range is $1,161 to $1,419 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 62018 in?

ZIP 62018 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 62018 for FY 2027?

The two-bedroom FMR rose 11.2%, from $1,160 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 50.0%.

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 rentCottage Hills, IL fair market rentIL statewide rentsWhat is SAFMR?Data sources