Location: Livingston County, IL | Metro: Ford County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 60959 has a population of 904 individuals, with 31.3% being renters. This indicates that while the majority of residents are homeowners, there is still a significant portion of the population who rely on rental housing. The median household income in this area stands at $54,583, which provides a benchmark for assessing the affordability of rental units.
A typical market rent of $763 in ZIP 60959 represents approximately 14.0% of the median household income. This suggests that the average renter can afford the current market rents without excessive financial strain. However, it's important to consider the Federal Market Rent (FMR) of $920, which is the maximum amount that a Section 8 voucher holder can receive to cover their rent in fiscal year 2026 for the metropolitan area. The difference between the market rent and the FMR indicates that landlords in this ZIP code may be able to attract tenants with Section 8 vouchers, as the subsidy covers more than the current market rate.
To determine if this ZIP code is a prime location for landlords seeking Section 8 tenants, we must examine the potential demand for vouchers. With 31.3% of the population renting, and considering the median income, it is likely that a portion of these renters could benefit from Section 8 assistance. However, the exact number of voucher holders is not provided in the data, so a precise estimate cannot be made. Nonetheless, given the income levels and the disparity between market rents and the FMR, there appears to be a viable market for Section 8 tenants.
A landlord in ZIP 60959 should expect tenants who are financially stable enough to contribute a portion of their income towards rent, but who also require government assistance to fully cover their housing costs. These tenants will likely have a monthly income around the median, and they will need to ensure that their total housing expenses do not exceed 30% of their income. Landlords can leverage the higher FMR to potentially increase their rental income while still providing affordable housing options for those with Section 8 vouchers.
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.