FY2027 Small Area FMR · Alton, IL
ZIP 62002 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 62002 (Alton, IL) is $1,300 a month, up 12.1% from FY2026. That is 4% below the St. Louis, MO-IL area-wide FMR of $1,349.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 62002 sits in the St. Louis, MO-IL area
Of the 268 ZIP codes HUD lists for the area, 62002 has the 102nd highest two-bedroom Small Area FMR. St. Louis, MO-IL is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,170 and $1,430 for two bedrooms.
ZIP code 62002 crosses more than one HUD area. HUD also lists it under Macoupin County, IL (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,030 | $927 – $1,133 | $1,064 | $910 |
| 1 bedroom | $1,060 | $954 – $1,166 | $1,104 | $950 |
| 2 bedrooms | $1,300 | $1,170 – $1,430 | $1,349 | $1,160 |
| 3 bedrooms | $1,670 | $1,503 – $1,837 | $1,731 | $1,490 |
| 4 bedrooms | $1,930 | $1,737 – $2,123 | $1,997 | $1,730 |
A household renting a two-bedroom home at the Small Area FMR of $1,300 needs about $52,000 a year to keep housing costs at 30% of income. The area median family income is $113,500 and the 80% low-income limit for four people is $90,800. ZIP code 62002 lies mainly in Madison County and Macoupin County. See the St. Louis, MO-IL metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 62002?
HUD's FY2027 Small Area Fair Market Rents for 62002 are $1,030 (studio), $1,060 (1 BR), $1,300 (2 BR), $1,670 (3 BR) and $1,930 (4 BR) a month.
What is the Section 8 payment standard in 62002?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 62002 that range is $1,170 to $1,430 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 62002?
The FY2026 income limits of the St. Louis, MO-IL area apply: median family income $113,500, low-income (80%) limit $90,800 for a family of four.