FY2027 Small Area FMR · Alexander, IL

ZIP 62601 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 62601 (Alexander, IL) is $1,020 a month, down 2.9% from FY2026. That is 10% above the Morgan County, IL area-wide FMR of $930.

2-bedroom SAFMR$1,020per month ▼ 2.9%

Area-wide 2 BR FMR$930Morgan County, IL

Rank in the area9thof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$918

2 BR Small Area FMR$1,020

110% of SAFMR$1,122

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$710▼ 1.4%

1 BR$810▼ 3.6%

2 BR$1,020▼ 2.9%

3 BR$1,310▼ 3.7%

4 BR$1,620▼ 2.4%

FY2027 FY2026

Where 62601 sits in the Morgan County, IL area

Of the 18 ZIP codes HUD lists for the area, 62601 has the 9th highest two-bedroom Small Area FMR. Morgan County, IL is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $930 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,020 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$710	$639 – $781	$648	$720
1 bedroom	$810	$729 – $891	$711	$840
2 bedrooms	$1,020	$918 – $1,122	$930	$1,050
3 bedrooms	$1,310	$1,179 – $1,441	$1,146	$1,360
4 bedrooms	$1,620	$1,458 – $1,782	$1,554	$1,660

A household renting a two-bedroom home at the Small Area FMR of $1,020 needs about $40,800 a year to keep housing costs at 30% of income. The area median family income is $91,500 and the 80% low-income limit for four people is $73,200. ZIP code 62601 lies mainly in Morgan County. See the Morgan County, IL county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
62670	New Berlin	7.8 mi	$1,090
62650	Jacksonville	9.8 mi	$930
62638	Franklin	9.9 mi	$1,150
62612	Ashland	10.2 mi	$1,090
62677	Pleasant Plains	11.1 mi	$1,280
62661	Loami	12.6 mi	$1,100

Questions

What is the Fair Market Rent for ZIP code 62601?

HUD's FY2027 Small Area Fair Market Rents for 62601 are $710 (studio), $810 (1 BR), $1,020 (2 BR), $1,310 (3 BR) and $1,620 (4 BR) a month.

What is the Section 8 payment standard in 62601?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 62601 that range is $918 to $1,122 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 62601?

The FY2026 income limits of the Morgan County, IL area apply: median family income $91,500, low-income (80%) limit $73,200 for a family of four.