FY2027 Small Area FMR · Olive Branch, IL

ZIP 62969 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 62969 (Olive Branch, IL) is $980 a month, up 5.4% from FY2026. That is 3% below the Cape Girardeau, MO-IL area-wide FMR of $1,012.

2-bedroom SAFMR$980per month ▲ 5.4%

Area-wide 2 BR FMR$1,012Cape Girardeau, MO-IL

Rank in the area26thof 41 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$882

2 BR Small Area FMR$980

110% of SAFMR$1,078

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

Studio$730▲ 2.8%

1 BR$810▲ 8.0%

2 BR$980▲ 5.4%

3 BR$1,360▲ 4.6%

4 BR$1,640▲ 5.1%

FY2027 FY2026

Where 62969 sits in the Cape Girardeau, MO-IL area

Of the 41 ZIP codes HUD lists for the area, 62969 has the 26th highest two-bedroom Small Area FMR. Cape Girardeau, MO-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 $1,012 for two bedrooms; an agency that opts in to Small Area FMRs would use $980 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	$730	$657 – $803	$757	$710
1 bedroom	$810	$729 – $891	$833	$750
2 bedrooms	$980	$882 – $1,078	$1,012	$930
3 bedrooms	$1,360	$1,224 – $1,496	$1,401	$1,300
4 bedrooms	$1,640	$1,476 – $1,804	$1,692	$1,560

A household renting a two-bedroom home at the Small Area FMR of $980 needs about $39,200 a year to keep housing costs at 30% of income. The area median family income is $90,200 and the 80% low-income limit for four people is $72,150. ZIP code 62969 lies mainly in Alexander County. See the Cape Girardeau, MO-IL metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
63742	Commerce	5.6 mi	$1,060
62990	Thebes	5.7 mi	$1,020
62962	Miller City	5.8 mi	$990
62964	Mounds	6.7 mi	$930
62988	Tamms	7.6 mi	$960
62976	Pulaski	8.8 mi	$930

Questions

What is the Fair Market Rent for ZIP code 62969?

HUD's FY2027 Small Area Fair Market Rents for 62969 are $730 (studio), $810 (1 BR), $980 (2 BR), $1,360 (3 BR) and $1,640 (4 BR) a month.

What is the Section 8 payment standard in 62969?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 62969 that range is $882 to $1,078 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 62969?

The FY2026 income limits of the Cape Girardeau, MO-IL area apply: median family income $90,200, low-income (80%) limit $72,150 for a family of four.