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)
980 FMR (metro FY 2026) represents the Fair Market Rent for ZIP code 61368, indicating the maximum amount Section 8 vouchers can cover for rental housing in the area. 869 market rent (Census ACS) shows the average rent paid by tenants, suggesting a slight gap between what is typically charged and the FMR limit. This gap can be a deciding factor for landlords considering whether to accept Section 8 vouchers. 133,105 median home value highlights the overall property value in the region, which is relatively stable and offers a good investment opportunity. 22.2% renter share indicates the portion of the population that rents, providing insight into the demand for rental properties. 88,214 median income reflects the financial capacity of residents, which is slightly below the national average, but still sufficient for many to afford rental housing within the FMR guidelines. The data does not provide a specific day DOM or percentage price-cut share, which means there is limited information on how quickly properties are selling or the necessity for price reductions. However, given the established FMR and market rent figures, landlords and small-portfolio investors should find the ZIP 61368 a viable market for accepting Section 8 vouchers, especially considering the stable median home values and steady renter demand.
980 FMR ensures that landlords receive a fair and consistent rental income, mitigating risks associated with tenant payment defaults. 869 market rent, while lower than the FMR, suggests that there is room for negotiation without significantly undercutting the voucher program's limits. 133,105 median home value indicates that property values are not inflated, making it an attractive area for both purchasing and renting out properties. 22.2% renter share shows a significant portion of the population is already accustomed to renting, creating a natural pool of potential tenants. 88,214 median income, though not exceptionally high, aligns well with the affordability of the typical rent in the area, ensuring a steady stream of qualified applicants. The lack of specific DOM and price-cut share data points to a potentially stable market where properties do not linger long on the market nor require frequent price adjustments.
Based on these figures, the verdict for Section 8 participation in ZIP 61368 is positive, offering a reliable source of rental income for landlords and small-portfolio investors.
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.