Location: Iroquois County, IL | Metro: Iroquois County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
ZIP 60951 in Martinton, IL, serves as a diversifier within a Section 8 portfolio strategy. With a median home value of $189,266 and an average monthly rent of $891, the ZIP demonstrates a spread between the Fair Market Rent (FMR) of $990 and the actual market rent, indicating a slight discount for investors. The median income in the area stands at $82,054, providing a stable tenant pool. However, the ZIP has a higher-than-average vacancy rate of 13.2%, which suggests that while it can be part of a diversified portfolio, it should not be the sole focus.
The area's 21.8% renter share and the presence of distressed properties offer opportunities for strategic investments. Despite the risks, the 5-year Compound Annual Growth Rate (CAGR) of 5.5% indicates a moderate appreciation potential. Additionally, the ZIP's proximity to other markets with similar dynamics allows for comparative analysis and strategic placement within a broader portfolio. For instance, nearby ZIP 60964 in Saint Anne, IL, has a value of $210,169, offering a different perspective on investment opportunities.
A diversified portfolio benefits from including areas like ZIP 60951, which provide a mix of cash flow and appreciation potential. The key is to maintain a balance, ensuring that the overall portfolio is resilient against market fluctuations and economic changes. ZIP 60951 is not a cash-flow anchor due to its high vacancy rate and does not present itself as a strong appreciation play given the moderate CAGR. Nonetheless, it remains a viable component for investors seeking to broaden their market exposure.
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.