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Sangamon County/Springfield/62712

62712

ZIPSAFMR
Sangamon County, IL
Zillow

ZIP Investment Score

49Below average

095130300
BRFMR
Eff. Rent
0 BR$1,000$880
1 BR$1,130$960
2 BR$1,430$1,250
3 BR$1,890$1,560
4 BR$2,000$1,910
5 BR$2,300Not available
6 BR$2,645Not available
7 BR$3,042Not available
8 BR$3,498Not available

Purchase Price Calculator

Maximum purchase price
$123,833

Cost breakdown

+Likely effective rent$1,250
HUD FMR$1,430
Market rentUsed$1,250
Est. payment standard (92%)$1,310
-Principal and interest-$626
Loan amount$99,066
Down payment$24,767
Rate6.50%
Term30 years
-Operating costs-$424
Property taxes-$124
Insurance-$175
Utilities$0
HOA$0
Management-$125
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,271(81.8% ROI)
Projected value
$133,355
Return breakdown
Property appreciation+$9,522
Loan principal paid down+$3,549
Rental cash flow+$7,200
5-year hold
+$34,602(139.7% ROI)
Projected value
$140,106
Return breakdown
Property appreciation+$16,273
Loan principal paid down+$6,329
Rental cash flow+$12,000
10-year hold
+$73,765(297.8% ROI)
Projected value
$158,517
Return breakdown
Property appreciation+$34,684
Loan principal paid down+$15,082
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.14
1 BR
1.18
2 BR
1.14
3 BR
1.21
4 BR
1.05
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 62712 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62712 (Springfield, IL) is $1,430 a month. That is up 2.9% from $1,390 in FY 2026. Springfield is in the Springfield, IL MSA. 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 metro-wide two-bedroom FMR of $1,237. Among 42 ZIP codes in Sangamon County, 62712 has the 5th-highest two-bedroom rent (county range $1,090–$1,860). The median county two-bedroom FMR in Illinois is $958, so ZIP 62712 is 49% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62712
BedroomsFY 2027Change90–110% range
Studio$1,000+4.2%$900–$1,100
1BR$1,130+0.9%$1,017–$1,243
2BR$1,430+2.9%$1,287–$1,573
3BR$1,890+1.6%$1,701–$2,079
4BR$2,000+3.1%$1,800–$2,200

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62712
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,000$1,130$1,430$1,890$2,000
FY 2026$960$1,120$1,390$1,860$1,940
FY 2025$870$1,030$1,270$1,720$1,760
FY 2024$790$950$1,160$1,540$1,580
FY 2023$640$780$960$1,260$1,320

Two-bedroom rent in nearby Sangamon County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62712
62701$1,300−9.1%
62702$1,200−16.1%
62703$1,260−11.9%
62704$1,250−12.6%
62705$1,240−13.3%
62706$1,240−13.3%
62707$1,180−17.5%
62708$1,240−13.3%
62711$1,550+8.4%
62712Current$1,430—
62719$1,240−13.3%
62726$1,240−13.3%

Questions about ZIP 62712 rents

How much will Section 8 pay for a two-bedroom in ZIP 62712?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,237, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,113 to $1,361 a month; under the ZIP-level Small Area FMR of $1,430 it would be $1,287 to $1,573. 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 62712 in?

ZIP 62712 is in the Springfield, IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,237.

How much did fair market rent change in ZIP 62712 for FY 2027?

The two-bedroom FMR rose 2.9%, from $1,390 in FY 2026 to $1,430 in FY 2027. Since FY 2023 it has risen 49.0%.

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