Location: Iroquois County, IL | Metro: Iroquois County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,150 |
| 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)
A skeptical investor might raise several concerns regarding investing in ZIP code 60967 (Stockland, IL). Here are the key objections addressed with available data:
Will Fair Market Rent (FMR) of $920 (metro FY 2026) cover the mortgage on a home?
The median home value in Stockland, IL is $655,592,223, which seems to be an error as it is unrealistic for the area. Without accurate home value data, it's challenging to estimate the mortgage coverage. However, the median household income is $666,591,330, also an unrealistic figure. Given these discrepancies, we recommend verifying the actual median home value and income figures directly from official sources such as the U.S. Census Bureau.
Is there enough renter demand at 100.0%?
The data suggests that the median rent in Stockland, IL is $647,425,329, which again appears to be an error. Despite this, the 100.0% rental demand rate indicates strong interest from renters. However, the lack of precise data on rental demand makes it difficult to provide a definitive answer. We advise checking local real estate listings and occupancy rates for a clearer picture.
Will vouchers keep pace with market rents?
While the data does not provide specific information on voucher usage, the median rent has increased by +23.4% over the past five years. This significant rise suggests that market rents are growing. To ensure vouchers keep pace, investors should monitor local housing assistance programs and their funding levels. The Federal government adjusts voucher amounts annually based on local market conditions, so staying informed about these changes is crucial.
In summary, while the data points towards strong rental demand and rising rents, the presence of unrealistic figures necessitates further verification. Always consult official sources for the most accurate information.
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.