Location: La Salle County, IL | Metro: La Salle County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The Section 8 analysis for ZIP code 60549 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,140, whereas the Census ACS reports the market rent at $1,069. This indicates that the FMR exceeds the market rent by $71, which is approximately 6.6%.
This gap makes ZIP 60549 a compelling opportunity for landlords and small-portfolio investors looking to maximize yields. With an FMR above the market rent, voucher tenants can effectively pay more than what the average market rent would suggest. This scenario benefits property owners because it allows them to receive higher rental payments compared to the open-market rate without having to increase the rent themselves.
The context of ZIP 60549 is crucial for understanding the implications of this analysis. Here, 22.4% of residents are renters, and the median home value stands at $314,786. The median household income is $108,417. Given these figures, landlords can expect a steady demand for rental properties. Moreover, the higher FMR payment ensures that landlords are not subsidizing the difference between their costs and the lower market rent when renting to voucher holders.
In summary, the gap between the FMR and market rent in ZIP 60549 presents a yield advantage for landlords who accept Section 8 vouchers. They can benefit from the additional $71 per month paid by the voucher program, which compensates for the market rate and potentially even offsets any administrative overhead associated with managing voucher tenants.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.