Location: Warren County, IL | Metro: Knox County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The ZIP code 61410 stands out within its county due to several distinct characteristics. With a population of 3,838 residents, it has a rental rate of 27.3%, indicating a moderate reliance on rental properties. The median income here is $62,925, which is slightly above the national average, suggesting a relatively affluent community. However, the median home value of $86,639 is notably lower, reflecting a potential gap between income levels and housing costs.
When it comes to Section 8 voucher economics, the data reveals an interesting dynamic. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $920, while the current market rent, based on Census ACS data, is $732. This difference indicates that landlords in ZIP 61410 could potentially see higher rents through Section 8 vouchers compared to the local market rates. Specifically, landlords accepting vouchers can expect to receive $188 more per month on average, making Section 8 participation a financially attractive option.
The data signature for ZIP 61410 suggests a stable environment. The relatively high median income coupled with lower median home values creates an opportunity for landlords to benefit from the discrepancy between FMR and market rents. Given these factors, landlords should consider the benefits of participating in the Section 8 program, as it offers a consistent source of rental income that exceeds current market rates. For small-portfolio investors, this stability can be particularly advantageous, ensuring a reliable tenant base and steady cash flow.
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.