Location: Fulton County, IL | Metro: Fulton County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
ZIP code 61433, located within the Fulton County, IL metro, presents a unique profile when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 61433 stands at $880 for fiscal year 2024, which serves as a critical benchmark for landlords and investors interested in Section 8 properties. However, it's important to note that the market rent and home values for ZIP 61433 are currently not available.
The absence of market rent and home value data suggests that 61433 may be less developed or have a smaller population relative to other areas in Fulton County. This lack of data could also indicate that the area has fewer rental properties or homes on the market, potentially making it a niche market for investment.
A particularly notable figure is the 0.0% renter share in ZIP 61433. This indicates that virtually none of the residents are renters, which contrasts sharply with the typical ZIP code in Fulton County where a higher percentage of residents are likely to be renting. Such a low renter share implies that the area is predominantly owner-occupied, reducing the potential pool of tenants for rental properties.
In the context of Section 8 investments, ZIP 61433 does not appear to be a prime location due to the low renter share. Typically, areas with a higher percentage of renters are more attractive for Section 8 investments because they provide a larger tenant base. However, the specific FMR of $880 can still be used to gauge the potential for rental income if the property qualifies under the Section 8 program.
Given the available data, ZIP 61433 cannot be definitively classified as a value pocket, mid-tier neighborhood, or premium sub-market within its metro. The low renter share suggests it is not an ideal location for rental investments, but without comparative market rent and home value figures, it's challenging to make a precise determination. Investors should consider these factors alongside the specific needs and preferences of their target tenant demographic.
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.