Location: McDonough County, IL | Metro: McDonough County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $56,178 | 1.66% | A+ |
| 3BR | $1,190 | $80,986 | 1.47% | A |
| 4BR | $1,550 | $85,236 | 1.82% | A+ |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for the Bushnell, IL metro area in fiscal year 2026 is set at $920 per month for a standard unit. In comparison, the market rent for ZIP 61422, according to Census ACS data, stands at $648 per month. Given these figures, voucher tenants in this area would generally cashflow positively at the FMR rate, indicating that landlords could expect a decent margin above the prevailing market rent.
The median home value in ZIP 61422 is $71,900, which can be used to derive the rent-to-price ratio. Using the market rent of $648, the annual rent would be approximately $7,776, leading to a rent-to-price ratio of roughly 11%. This suggests that rental income represents a significant portion of the property's value, making it a favorable investment for those seeking steady cash flow.
Note that the median Days on Market (DOM) and the percentage of price cuts are not available for this ZIP code. However, given the low median home value and the positive cashflow potential from Section 8 vouchers, the rent-vs-buy dynamics are likely to favor rental investments over purchasing properties in this area.
The strongest investor angle in ZIP 61422 is cashflow. With the FMR well above the market rent, landlords can secure a reliable stream of income from Section 8 tenants without the need for premium units.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.