Location: Bureau 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)
The real estate market in ZIP code 61338 presents a unique set of conditions that both landlords and small-portfolio investors should consider when evaluating their pricing power and long-term investment strategies.
The median home value in ZIP 61338 is currently unavailable, which suggests a lack of recent comprehensive data on property values. However, the fact that a significant percentage of listings have been reduced and the median days on market (DOM) is also not available indicates a potential slowdown in sales activity and an increase in price negotiations. This combination signals that buyers might be exercising more caution and seeking better deals, thereby reducing sellers' pricing power in the near term.
On the rental side, the Federal Market Rent (FMR) for Section 8 in the metropolitan area for fiscal year 2026 is projected at $920. In contrast, the current market rent, according to Census ACS data, stands at $1,029. This gap between the FMR and the actual market rent highlights a potential challenge for landlords who rely on Section 8 vouchers, as they will likely face a tighter margin unless voucher rates adjust to reflect market realities.
For long-hold investors, the setup in ZIP 61338 does not present a strong case for substantial appreciation. The lack of clear trends in median home values and the presence of reduced listings suggest a market that is either stabilizing or facing downward pressure. While there could be opportunities for growth in specific segments or properties, the overall conditions imply that steady returns rather than rapid appreciation are more realistic.
Investors should focus on properties that offer a balance between rental income and potential for gradual value increases, while being mindful of the limitations imposed by Section 8 voucher rates. This approach allows for sustainable cash flow and avoids the pitfalls of overvalued assets in a potentially less dynamic market environment.
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.