Location: Iroquois County, IL | Metro: Ford County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The median home value in ZIP 60911, located in Iroquois County, IL, stands at $212,342. This aligns closely with the reported median home value of $214,069 from recent data. Given the HUD Fair Market Rent (FMR) for the metro area is set at $1,060 for fiscal year 2026, while the current market rent is listed at $798 based on Census ACS data, it's evident that voucher tenants will cashflow at FMR levels, providing a positive financial outlook for landlords and small-portfolio investors.
To derive the rent-to-price ratio, we use the HUD FMR of $1,060 against the median home value of $212,342. This yields a ratio of approximately 0.5%, suggesting that rental income is significantly lower compared to property values. However, this also indicates that the area is more suited for buy-and-hold strategies rather than flipping properties, given the low median Days on Market (DOM) and minimal price-cutting activity among listings.
Specifically, homes in the area spend a median of 57 days on the market before going pending, and only 0.2% of active listings have experienced a price cut. These factors suggest a stable real estate market with little need for aggressive pricing adjustments, which can be advantageous for investors seeking long-term stability and consistent cash flow.
The strongest investor angle in ZIP 60911 is likely cashflow, given the positive difference between the HUD FMR and the actual market rent. This allows investors to benefit from higher-than-average rental incomes when compared to the local property values, making it an attractive option for those looking to generate steady income through their investments.
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.