Skip to main content
Loading page
Adams County/Quincy/62305

62305

ZIPSAFMR
Adams County, IL
Zillow

ZIP Investment Score

48Below average

095130300
BRFMR
Eff. Rent
0 BR$770$730
1 BR$840$810
2 BR$1,100$910
3 BR$1,350$960
4 BR$1,600$1,180
5 BR$1,840Not available
6 BR$2,116Not available
7 BR$2,433Not available
8 BR$2,798Not available

Purchase Price Calculator

Maximum purchase price
$73,309

Cost breakdown

+Likely effective rent$910
HUD FMR$1,100
Market rentUsed$910
Est. payment standard (90%)$990
-Principal and interest-$371
Loan amount$58,647
Down payment$14,662
Rate6.50%
Term30 years
-Operating costs-$339
Property taxes-$73
Insurance-$175
Utilities$0
HOA$0
Management-$91
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$14,938(101.9% ROI)
Projected value
$78,946
Return breakdown
Property appreciation+$5,637
Loan principal paid down+$2,101
Rental cash flow+$7,200
5-year hold
+$25,380(173.1% ROI)
Projected value
$82,943
Return breakdown
Property appreciation+$9,633
Loan principal paid down+$3,747
Rental cash flow+$12,000
10-year hold
+$53,461(364.6% ROI)
Projected value
$93,842
Return breakdown
Property appreciation+$20,533
Loan principal paid down+$8,928
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.05
1 BR
1.04
2 BR
1.21
3 BR
1.41
4 BR
1.36
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 62305 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62305 (Quincy, IL) is $1,100 a month. That is down 6.8% from $1,180 in FY 2026. Quincy is in the Adams County, IL non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,013. Among 24 ZIP codes in Adams County, 62305 has the 5th-highest two-bedroom rent (county range $960–$1,380). The median county two-bedroom FMR in Illinois is $958, so ZIP 62305 is 15% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62305
BedroomsFY 2027Change90–110% range
Studio$770−4.9%$693–$847
1BR$840−6.7%$756–$924
2BR$1,100−6.8%$990–$1,210
3BR$1,350−8.2%$1,215–$1,485
4BR$1,600−3.6%$1,440–$1,760

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62305
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$770$840$1,100$1,350$1,600
FY 2026$810$900$1,180$1,470$1,660
FY 2025$760$850$1,110$1,440$1,500
FY 2024area FMR$593$666$875$1,137$1,165
FY 2023area FMR$569$636$837$1,063$1,124

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Adams County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62305
62301$1,060−3.6%
62305Current$1,100—
62306$1,010−8.2%
62311$960−12.7%
62312$960−12.7%
62314$960−12.7%
62316$960−12.7%
62320$960−12.7%
62324$970−11.8%
62325$1,380+25.5%
62338$1,130+2.7%
62339$960−12.7%

Questions about ZIP 62305 rents

How much will Section 8 pay for a two-bedroom in ZIP 62305?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,013, which applies unless the housing authority uses Small Area FMRs, that basic range is $912 to $1,114 a month; under the ZIP-level Small Area FMR of $1,100 it would be $990 to $1,210. 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 62305 in?

ZIP 62305 is in the Adams County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,013.

How much did fair market rent change in ZIP 62305 for FY 2027?

The two-bedroom FMR fell 6.8%, from $1,180 in FY 2026 to $1,100 in FY 2027. Since FY 2025 it has fallen 0.9%.

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