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Hancock County/Colchester/62326

62326

ZIPSAFMR
Hancock County, IL
Zillow

ZIP Investment Score

105Above average

095130300
BRFMR
Eff. Rent
0 BR$670$660
1 BR$740$660
2 BR$960$810
3 BR$1,220$890
4 BR$1,600$930
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
$58,449

Cost breakdown

+Likely effective rent$810
HUD FMR$960
Market rentUsed$810
Est. payment standard (90%)$860
-Principal and interest-$296
Loan amount$46,759
Down payment$11,690
Rate6.50%
Term30 years
-Operating costs-$314
Property taxes-$58
Insurance-$175
Utilities$0
HOA$0
Management-$81
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$13,369(114.4% ROI)
Projected value
$62,943
Return breakdown
Property appreciation+$4,494
Loan principal paid down+$1,675
Rental cash flow+$7,200
5-year hold
+$22,668(193.9% ROI)
Projected value
$66,130
Return breakdown
Property appreciation+$7,681
Loan principal paid down+$2,987
Rental cash flow+$12,000
10-year hold
+$47,489(406.2% ROI)
Projected value
$74,820
Return breakdown
Property appreciation+$16,371
Loan principal paid down+$7,119
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.02
1 BR
1.12
2 BR
1.19
3 BR
1.37
4 BR
1.72
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 62326 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62326 (Colchester, IL) is $960 a month. That is unchanged from FY 2026. Colchester is in the Hancock 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 $930. Among 23 ZIP codes in Hancock County, 62326 is tied for the 8th-highest two-bedroom rent (county range $930–$1,060).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62326
BedroomsFY 2027Change90–110% range
Studio$670+1.5%$603–$737
1BR$740+1.4%$666–$814
2BR$9600.0%$864–$1,056
3BR$1,220−1.6%$1,098–$1,342
4BR$1,600+4.6%$1,440–$1,760

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62326
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$670$740$960$1,220$1,600
FY 2026$660$730$960$1,240$1,530
FY 2025$600$680$880$1,120$1,330
FY 2024area FMR$553$680$807$1,043$1,145
FY 2023area FMR$531$644$774$1,032$1,189

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

Two-bedroom rent in nearby Hancock County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62326
62311$9600.0%
62313$930−3.1%
62316$9600.0%
62321$930−3.1%
62326Current$960—
62329$930−3.1%
62330$1,040+8.3%
62334$950−1.0%
62336$930−3.1%
62341$1,030+7.3%
62346$9600.0%
62349$9600.0%

Questions about ZIP 62326 rents

How much will Section 8 pay for a two-bedroom in ZIP 62326?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $930, which applies unless the housing authority uses Small Area FMRs, that basic range is $837 to $1,023 a month; under the ZIP-level Small Area FMR of $960 it would be $864 to $1,056. 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 62326 in?

ZIP 62326 is in the Hancock County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $930.

How much did fair market rent change in ZIP 62326 for FY 2027?

The two-bedroom FMR was unchanged at $960 in FY 2027. Since FY 2025 it has risen 9.1%.

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