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Union County/Cobden/62920

62920

ZIPSAFMR
Union County, IL
Zillow

ZIP Investment Score

110Above average

095130300
BRFMR
Eff. Rent
0 BR$680$680
1 BR$760$760
2 BR$970$970
3 BR$1,230$1,230
4 BR$1,340$1,340
5 BR$1,541Not available
6 BR$1,772Not available
7 BR$2,038Not available
8 BR$2,344Not available

Purchase Price Calculator

Maximum purchase price
$82,225

Cost breakdown

+Likely effective rent$970
HUD FMRUsed$970
Market rentN/A
Est. payment standardN/A
-Principal and interest-$416
Loan amount$65,780
Down payment$16,445
Rate6.50%
Term30 years
-Operating costs-$354
Property taxes-$82
Insurance-$175
Utilities$0
HOA$0
Management-$97
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,879(96.6% ROI)
Projected value
$88,547
Return breakdown
Property appreciation+$6,322
Loan principal paid down+$2,357
Rental cash flow+$7,200
5-year hold
+$27,008(164.2% ROI)
Projected value
$93,030
Return breakdown
Property appreciation+$10,805
Loan principal paid down+$4,203
Rental cash flow+$12,000
10-year hold
+$57,044(346.9% ROI)
Projected value
$105,255
Return breakdown
Property appreciation+$23,030
Loan principal paid down+$10,014
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 62920 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62920 (Cobden, IL) is $970 a month. That is up 2.1% from $950 in FY 2026. Cobden is in the Union 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 14 ZIP codes in Union County, 62920 has the 8th-highest two-bedroom rent (county range $930–$1,170). The median county two-bedroom FMR in Illinois is $958, so ZIP 62920 is 1% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62920
BedroomsFY 2027Change90–110% range
Studio$680+3.0%$612–$748
1BR$760+2.7%$684–$836
2BR$970+2.1%$873–$1,067
3BR$1,230+2.5%$1,107–$1,353
4BR$1,340+3.9%$1,206–$1,474

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62920
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$680$760$970$1,230$1,340
FY 2026$660$740$950$1,200$1,290
FY 2025$680$720$920$1,190$1,270
FY 2024$630$710$930$1,220$1,310
FY 2023$580$650$860$1,120$1,270

Two-bedroom rent in nearby Union County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62920
62902$980+1.0%
62905$930−4.1%
62906$940−3.1%
62912$980+1.0%
62920Current$970—
62923$1,170+20.6%
62926$930−4.1%
62939$1,050+8.2%
62952$960−1.0%
62957$1,050+8.2%
62958$1,040+7.2%
62961$950−2.1%

Questions about ZIP 62920 rents

How much will Section 8 pay for a two-bedroom in ZIP 62920?

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 $970 it would be $873 to $1,067. 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 62920 in?

ZIP 62920 is in the Union 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 62920 for FY 2027?

The two-bedroom FMR rose 2.1%, from $950 in FY 2026 to $970 in FY 2027. Since FY 2023 it has risen 12.8%.

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