Location: Lee County, IL | Metro: Bureau County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
19.7% of the population in ZIP 61330 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960, which represents the upper limit for Section 8 housing payments. Comparatively, the market rent based on Census ACS data is $876, suggesting that properties priced below or at the FMR could attract both Section 8 tenants and those paying market rates. With a median home value of $161,707, there's potential for property appreciation and capital gains for long-term investors. However, the median income of $69,055 might limit the financial capacity of some residents, making affordable housing options like Section 8 vouchers particularly attractive. Unfortunately, the lack of specific data on days on market (DOM) and the percentage of price cuts suggests that local real estate transactions are less frequent or less tracked, possibly due to a smaller volume of sales activity. This could mean that landlords and small-portfolio investors should be prepared for potentially longer vacancy periods or slower turnover rates. Despite these uncertainties, the alignment between the FMR and market rent makes ZIP 61330 a viable location for Section 8 investments, given the moderate tenant demand and reasonable property values.
Section 8 Verdict: ZIP 61330 is suitable for Section 8 investments due to the favorable rent-to-income ratio and moderate demand for rental units.
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.