Location: Davenport-Moline-Rock Island, IA | Metro: Davenport-Moline-Rock Island, IA-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The ZIP code 61419 is situated in a rural setting within the state of Illinois. This area is characterized by a small population of 134 residents, which makes it an intimate community. Among these residents, only 13.3% are renters, indicating a primarily owner-occupied environment. The median household income here is $56,429, reflecting a modest economic status typical of many rural areas.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 61419 in fiscal year 2024 is set at $890. However, specific data regarding the market rent for this ZIP code is currently unavailable, suggesting that the FMR may serve as a reasonable proxy for rental rates in the absence of more detailed local information.
Given the characteristics of ZIP 61419, it presents a unique challenge for investors. With a low percentage of renters and a small overall population, the demand for rental properties is limited. This scenario is more suited to a hands-off voucher operator rather than a hands-on value-add buyer. The lower demand means that actively managing and improving properties to increase their value may not yield significant returns. Instead, focusing on properties that qualify for Section 8 vouchers can ensure a steady stream of tenants who are financially supported by the government, making this a reliable investment strategy in such a niche market.
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.