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St. Clair County/Lovejoy/62059

62059

ZIPSAFMR
St. Clair County, IL
Zillow

ZIP Investment Score

138High yield potential

095130300
BRFMR
Eff. Rent
0 BR$840$920
1 BR$880$970
2 BR$1,070$1,130
3 BR$1,370$1,240
4 BR$1,580$1,300
5 BR$1,817Not available
6 BR$2,090Not available
7 BR$2,403Not available
8 BR$2,763Not available

Purchase Price Calculator

Maximum purchase price
$106,001

Cost breakdown

+Likely effective rent$1,130
HUD FMR$1,070
Market rent$1,160
Est. payment standard (105%)Used$1,130
-Principal and interest-$536
Loan amount$84,801
Down payment$21,200
Rate6.50%
Term30 years
-Operating costs-$394
Property taxes-$106
Insurance-$175
Utilities$0
HOA$0
Management-$113
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,389(86.7% ROI)
Projected value
$114,152
Return breakdown
Property appreciation+$8,150
Loan principal paid down+$3,038
Rental cash flow+$7,200
5-year hold
+$31,347(147.9% ROI)
Projected value
$119,930
Return breakdown
Property appreciation+$13,929
Loan principal paid down+$5,418
Rental cash flow+$12,000
10-year hold
+$66,599(314.1% ROI)
Projected value
$135,690
Return breakdown
Property appreciation+$29,689
Loan principal paid down+$12,910
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.85
1 BR
0.78
2 BR
0.92
3 BR
1.10
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 62059 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62059 (Lovejoy, IL) is $1,070 a month. That is up 8.1% from $990 in FY 2026. Lovejoy 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 St. Clair County, 62059 has the 30th-highest two-bedroom rent (county range $960–$2,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 62059 is 12% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62059
BedroomsFY 2027Change90–110% range
Studio$840+10.5%$756–$924
1BR$880+10.0%$792–$968
2BR$1,070+8.1%$963–$1,177
3BR$1,370+7.9%$1,233–$1,507
4BR$1,580+6.8%$1,422–$1,738

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62059
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$840$880$1,070$1,370$1,580
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 St. Clair County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62059
62059Current$1,070—
62060$1,250+16.8%
62071$1,320+23.4%
62201$990−7.5%
62202$1,320+23.4%
62203$1,230+15.0%
62204$1,040−2.8%
62205$1,300+21.5%
62206$1,270+18.7%
62207$1,080+0.9%
62208$1,450+35.5%
62220$1,220+14.0%

Questions about ZIP 62059 rents

How much will Section 8 pay for a two-bedroom in ZIP 62059?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,070, that basic range is $963 to $1,177 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 62059 in?

ZIP 62059 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 62059 for FY 2027?

The two-bedroom FMR rose 8.1%, from $990 in FY 2026 to $1,070 in FY 2027. Since FY 2023 it has risen 24.4%.

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