Location: Bureau County, IL | Metro: Bureau County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 61359 reveals several key points for potential Section 8 real-estate investments.
The rent math does not favorably align with the current market conditions. The Fair Market Rent (FMR) for the Bureau County, IL metro area, set at $920 for fiscal year 2026, is notably higher than the actual market rent reported by the Census ACS, which stands at $728. This discrepancy suggests that landlords might struggle to cover costs if they rely solely on Section 8 rents without additional subsidies or incentives.
Acquisition affordability is unclear due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes that have had their prices cut. Without these figures, it's impossible to determine if properties in ZIP 61359 are currently undervalued or overpriced relative to their rental potential.
Tenant demand appears limited given the small population size of 369 residents and a relatively low renter share of 12.4%. This indicates that there may be fewer potential tenants interested in renting properties, which could make it difficult to find suitable Section 8 participants.
Based on the available data, investing in ZIP code 61359 for Section 8 properties is not advisable. The mismatch between FMR and market rent poses financial risks, while the limited population and low renter share suggest weak demand. Landlords should consider other areas with stronger fundamentals 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.