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St. Clair County/Millstadt/62260

62260

ZIPSAFMR
St. Clair County, IL
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$1,080$1,080
1 BR$1,120$1,120
2 BR$1,370$1,370
3 BR$1,760$1,760
4 BR$2,030$2,030
5 BR$2,335Not available
6 BR$2,685Not available
7 BR$3,087Not available
8 BR$3,550Not available

Purchase Price Calculator

Maximum purchase price
$141,665

Cost breakdown

+Likely effective rent$1,370
HUD FMRUsed$1,370
Market rentN/A
Est. payment standardN/A
-Principal and interest-$716
Loan amount$113,332
Down payment$28,333
Rate6.50%
Term30 years
-Operating costs-$454
Property taxes-$142
Insurance-$175
Utilities$0
HOA$0
Management-$137
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,153(78.2% ROI)
Projected value
$152,558
Return breakdown
Property appreciation+$10,893
Loan principal paid down+$4,060
Rental cash flow+$7,200
5-year hold
+$37,857(133.6% ROI)
Projected value
$160,281
Return breakdown
Property appreciation+$18,616
Loan principal paid down+$7,241
Rental cash flow+$12,000
10-year hold
+$80,932(285.6% ROI)
Projected value
$181,343
Return breakdown
Property appreciation+$39,678
Loan principal paid down+$17,254
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
--
Mortgage rate
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ZIP 62260 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62260 (Millstadt, IL) is $1,370 a month. That is up 5.4% from $1,300 in FY 2026. Millstadt 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, 62260 is tied for the 7th-highest two-bedroom rent (county range $960–$2,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 62260 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62260
BedroomsFY 2027Change90–110% range
Studio$1,080+5.9%$972–$1,188
1BR$1,120+5.7%$1,008–$1,232
2BR$1,370+5.4%$1,233–$1,507
3BR$1,760+5.4%$1,584–$1,936
4BR$2,030+5.2%$1,827–$2,233

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62260
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,080$1,120$1,370$1,760$2,030
FY 2026$1,020$1,060$1,300$1,670$1,930
FY 2025$1,020$1,050$1,300$1,680$1,930
FY 2024$920$960$1,200$1,550$1,800
FY 2023$690$730$920$1,190$1,390

Two-bedroom rent in nearby St. Clair County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62260
62239$1,130−17.5%
62240$1,230−10.2%
62243$1,360−0.7%
62254$1,400+2.2%
62255$1,060−22.6%
62257$960−29.9%
62258$1,550+13.1%
62260Current$1,370—
62264$1,200−12.4%
62265$1,430+4.4%
62269$1,570+14.6%
62282$990−27.7%

Questions about ZIP 62260 rents

How much will Section 8 pay for a two-bedroom in ZIP 62260?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,370, that basic range is $1,233 to $1,507 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 62260 in?

ZIP 62260 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 62260 for FY 2027?

The two-bedroom FMR rose 5.4%, from $1,300 in FY 2026 to $1,370 in FY 2027. Since FY 2023 it has risen 48.9%.

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