Location: Bureau County, IL | Metro: Bureau County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 61346, located in Bureau County, IL, presents a unique opportunity for real estate investors. The HUD Fair Market Rent (FMR) for the metro area, effective in fiscal year 2026, is set at $1,160. However, the current market rent data is not available, which means we must rely solely on the FMR to assess the potential for positive cash flow.
Voucher tenants in this area will likely cashflow at the FMR rate, given that there is no conflicting market rent data suggesting otherwise. This implies that landlords can expect to cover their mortgage payments, maintenance costs, and other expenses with the rental income provided by the voucher program without significant difficulty. The lack of specific market rent figures makes it challenging to determine if the cash flow would be marginal or require premium units, but based on the HUD FMR alone, the situation appears favorable for landlords.
The median home value in the area is also not provided, which hinders our ability to calculate an exact rent-to-price ratio. However, the absence of such data could indicate a stable housing market where property values do not fluctuate wildly, making it a reliable investment choice. Without precise figures on median days on market (DOM) and the percentage of price cuts, it's difficult to comment on the rent-versus-buy dynamics. Nonetheless, the stability implied by the lack of extreme market fluctuations suggests a consistent demand for rentals.
The strongest angle for investors in this market is likely to be cash flow. Given the established FMR and the absence of evidence pointing towards higher market rents, the voucher program provides a predictable and sufficient income stream for landlords. This predictability, combined with the apparent stability of the housing market, makes ZIP 61346 an attractive location for small-portfolio investors looking to secure steady returns through rental income.
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.