Location: Iroquois County, IL | Metro: Iroquois County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The ZIP code 60931, located in Iroquois County, IL, presents a balanced market for Section 8 investors. According to HUD Fair Market Rent (FMR) data for fiscal year 2026, the FMR for the metro area is set at $1,010. In comparison, the Census ACS reports a market rent of $1,021. This indicates that voucher tenants will cashflow at FMR, meaning the rental income will cover the mortgage and operating expenses.
To further analyze the investment potential, consider the median home value in ZIP 60931, which stands at $164,890. Using this figure, we can calculate the rent-to-price ratio, which is approximately 6.2%. This suggests that properties in this area are reasonably priced relative to their rental income potential.
The market intelligence from uszipstats.com reveals that properties in ZIP 60931 move within an average of 38 days on the market (DOM), indicating a moderate level of activity. Additionally, the data shows that 0.0% of homes sell above the list price, suggesting a stable market with little room for significant price increases.
The strong investor angle in ZIP 60931 is stability. Given the balanced market conditions and the low percentage of homes selling above list price, investors can expect consistent returns without the risk of volatile price fluctuations.
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.