Location: Bureau County, IL | Metro: Bureau County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 61337 in Bureau County, IL, reveals several key points for potential investment in the Section 8 housing market.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,190, while the current market rent based on Census ACS data is $1,058. This indicates that landlords can expect to receive a subsidy that covers the difference between these two figures, making it financially viable to participate in the Section 8 program.
Regarding the affordability of acquisitions, the data shows that the median home value is not available, which complicates direct comparisons with typical investment metrics. However, the average number of days on market (DOM) and the percentage of homes that required price cuts are also listed as N/A, suggesting that there might be limited recent sales data, which could indicate a slower-moving market. Landlords should proceed with caution and conduct thorough due diligence before acquiring properties in this area.
Tenant demand is another critical factor. With a population of 558 individuals and a 13.6% renter share, there is a smaller pool of potential tenants compared to more densely populated areas. However, the demand for rental units does exist, and landlords who can provide quality, affordable housing may find a steady stream of interested renters.
In summary, the rent math in ZIP 61337 supports participation in the Section 8 program, given the favorable subsidy gap between the FMR and market rent. Acquisition affordability is uncertain due to missing data on median home values and recent market activity. Tenant demand is present but limited by the small overall population. For landlords willing to navigate a less active market and serve a niche community, this ZIP code offers a viable opportunity for Section 8 investments.
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.