Location: Fulton County, IL | Metro: Fulton County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 61432 reveals a favorable opportunity for cashflow generation. The HUD Fair Market Rent (FMR) for FY 2024 is set at $940, which is significantly higher than the reported market rent of $706 based on Census ACS data. This indicates that voucher tenants in this area can cashflow comfortably at the FMR rate without the need for premium units.
The median home value is listed as N/A, suggesting that the focus should remain on rental properties rather than potential buy-and-hold strategies. Given the absence of a median home value, it's challenging to derive an accurate rent-to-price ratio, but the high FMR relative to market rent suggests strong demand for subsidized housing options in the region.
With the median Days on Market (DOM) also noted as N/A, there is insufficient data to comment on how quickly properties typically sell in this area. Similarly, the percentage of homes that experience a price cut during the selling process is also marked as N/A, making it difficult to assess the broader rent-versus-buy dynamics. However, the disparity between the HUD FMR and the actual market rent points towards a stable and predictable rental environment, particularly for those relying on Section 8 vouchers.
The strongest investor angle in ZIP 61432 is cashflow. The substantial difference between the HUD FMR and the local market rent provides a clear advantage for landlords and small-portfolio investors who can leverage this gap to ensure steady and reliable income streams from their properties.
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.