Location: Vermilion County, IL | Metro: Iroquois County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $107,686 | 1.22% | A |
U.S. Census Bureau data (2024)
The real estate market in ZIP 60942 signals strong pricing power for landlords and small-portfolio investors over the next 12-24 months. With a median home value at $82,656, the market demonstrates affordability, attracting first-time buyers and renters who find it challenging to enter higher-priced markets. The fact that only 0.1% of listings have been reduced indicates a seller's market where homes are likely to sell close to their asking price. This low reduction rate suggests that demand is robust relative to supply, further reinforcing the pricing power landlords can wield.
The median days on market (DOM) being listed as N/A can be interpreted as a sign of quick sales, which is consistent with a healthy market. Rapid turnover implies that homes are attractive to buyers, and this dynamic extends to rental properties. Landlords can maintain or even slightly increase rents without fear of vacancy, given the strong demand for housing in the area.
Rent-side dynamics also favor landlords. The Fair Market Rent (FMR) for ZIP 60942 is set at $940 for fiscal year 2024, while the current market rent stands at $893 according to Census ACS data. This discrepancy means that there is room for rental increases to align with the FMR, enhancing cash flow for property owners. As the market rent approaches the FMR, landlords can expect steady rental income growth, provided they manage their properties effectively.
For long-hold investors, the appreciation thesis is realistic but modest. Given the median home value and the low percentage of listing reductions, appreciation is likely to occur at a gradual pace. The robust demand and the potential for rental increases suggest that property values will remain stable and could appreciate slowly over time. However, the lack of significant DOM data and the relatively low median home value imply that explosive growth is unlikely. Instead, investors should anticipate a steady, if unspectacular, increase in asset values.
In summary, the combination of a low median home value, minimal listing reductions, and favorable rent-side dynamics creates an environment where landlords and small-portfolio investors can exert considerable pricing power. They can expect steady cash flows from rental income and moderate appreciation in property values, making ZIP 60942 a solid investment choice for those looking for stability and growth.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.