Location: Iroquois County, IL | Metro: Iroquois County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 60926, located in Lake County, Illinois, stands out due to its small population size of just 50 residents. This microcosm is notable for having 29.6% of its residents as renters, which is a significant portion considering the overall population. The median income in this ZIP code is $45,313, indicating a middle-class area where financial stability is key.
Regarding the Section 8 voucher program, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920. However, specific data on the median market rent for ZIP 60926 is currently unavailable, which suggests that there might be limited rental properties in the area or that the rental market is not well-documented. Given the small number of residents and the lack of detailed market data, it's challenging to provide a precise comparison between the FMR and the local market rent.
The data signature for ZIP 60926 reads as "stable." With a small and potentially close-knit community, the rental market dynamics are likely consistent. Landlords and small-portfolio investors should focus on understanding the local demand for rental units and how the Section 8 program can support steady tenancy. Despite the limited data, the FMR figure provides a benchmark for setting rents that could attract voucher holders, ensuring a reliable tenant pool.
To summarize, ZIP 60926 offers a niche opportunity for those interested in the Section 8 program, with a stable environment and a clear rental support structure through the FMR. While the exact local market conditions are unclear, the program's guidelines can still be leveraged effectively.
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.