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Monroe County/Fults/62244

62244

ZIPSAFMR
Monroe County, IL
Zillow

ZIP Investment Score

70Below average

095130300
BRFMR
Eff. Rent
0 BR$1,000$1,000
1 BR$1,040$1,040
2 BR$1,270$1,270
3 BR$1,630$1,630
4 BR$1,880$1,880
5 BR$2,162Not available
6 BR$2,486Not available
7 BR$2,859Not available
8 BR$3,288Not available

Purchase Price Calculator

Maximum purchase price
$126,805

Cost breakdown

+Likely effective rent$1,270
HUD FMRUsed$1,270
Market rentN/A
Est. payment standardN/A
-Principal and interest-$641
Loan amount$101,444
Down payment$25,361
Rate6.50%
Term30 years
-Operating costs-$429
Property taxes-$127
Insurance-$175
Utilities$0
HOA$0
Management-$127
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,585(81.2% ROI)
Projected value
$136,555
Return breakdown
Property appreciation+$9,750
Loan principal paid down+$3,634
Rental cash flow+$7,200
5-year hold
+$35,144(138.6% ROI)
Projected value
$143,468
Return breakdown
Property appreciation+$16,663
Loan principal paid down+$6,481
Rental cash flow+$12,000
10-year hold
+$74,960(295.6% ROI)
Projected value
$162,321
Return breakdown
Property appreciation+$35,516
Loan principal paid down+$15,444
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
--
Tax rate
--
Mortgage rate
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ZIP 62244 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62244 (Fults, IL) is $1,270 a month. That is up 9.5% from $1,160 in FY 2026. Fults 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 11 ZIP codes in Monroe County, 62244 is tied for the 3rd-highest two-bedroom rent (county range $960–$1,550). The median county two-bedroom FMR in Illinois is $958, so ZIP 62244 is 33% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62244
BedroomsFY 2027Change90–110% range
Studio$1,000+9.9%$900–$1,100
1BR$1,040+9.5%$936–$1,144
2BR$1,270+9.5%$1,143–$1,397
3BR$1,630+9.4%$1,467–$1,793
4BR$1,880+8.7%$1,692–$2,068

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62244
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,000$1,040$1,270$1,630$1,880
FY 2026$910$950$1,160$1,490$1,730
FY 2025$900$930$1,150$1,490$1,710
FY 2024$910$960$1,190$1,540$1,790
FY 2023$750$800$1,000$1,300$1,510

Two-bedroom rent in nearby Monroe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62244
62236$1,360+7.1%
62240$1,230−3.1%
62244Current$1,270—
62248$1,000−21.3%
62256$1,2700.0%
62264$1,200−5.5%
62277$960−24.4%
62278$1,090−14.2%
62279$1,040−18.1%
62295$1,550+22.0%
62298$1,150−9.4%

Questions about ZIP 62244 rents

How much will Section 8 pay for a two-bedroom in ZIP 62244?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,270, that basic range is $1,143 to $1,397 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 62244 in?

ZIP 62244 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 62244 for FY 2027?

The two-bedroom FMR rose 9.5%, from $1,160 in FY 2026 to $1,270 in FY 2027. Since FY 2023 it has risen 27.0%.

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