Location: Livingston County, IL | Metro: Ford County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The classification of ZIP code 60962 hinges on the balance between yield and stability. With a Fair Market Rent (FMR) of $1,070 for the fiscal year 2026 in the metro area versus a market rent of $885, there's a significant opportunity for landlords to capture higher rental yields by positioning their properties closer to the FMR. This discrepancy suggests a potential for higher returns, particularly if the property can be rented out at or near the FMR.
The median home value in ZIP 60962 stands at $117,311, which, when combined with the aforementioned rents, indicates a favorable cost-to-income ratio for landlords. However, the stability of the market is somewhat mixed. The area has 23.8% of its residents as renters, which is a moderate figure that does not suggest extreme instability but also does not guarantee long-term tenancy. The lack of data on days on market (DOM) makes it challenging to assess how quickly properties might turn over, though this is a common gap in ZIP-level data.
The median household income of $61,750 provides insight into the economic stability of the area. While this figure is not exceptionally high, it does indicate that the majority of residents have sufficient income to support renting at market rates, even if slightly below the FMR. This suggests that while there might be some financial stressors affecting tenants' ability to pay higher rents, the overall economic health of the area supports a reasonable level of stability.
Given these factors, ZIP 60962 appears to be a market with moderate potential for yield enhancement through strategic pricing, but with an average level of stability. It leans more towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. Landlords should focus on maintaining competitive yet slightly elevated rents to maximize income without risking high vacancy rates. Additionally, targeting properties that can be effectively managed and maintained at lower costs relative to the rental income could further enhance profitability.
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.