Location: Henderson County, IL | Metro: Henderson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,020 |
| 5 Bedrooms | $2,343 |
| 6 Bedrooms | $2,624 |
| 7 Bedrooms | $2,834 |
| 8 Bedrooms | $2,976 |
U.S. Census Bureau data (2024)
The ZIP code 61437, located within the Henderson County, IL metro, presents a unique snapshot when compared to other ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 61437 is set at $990 for fiscal year 2026, which is lower than the market rent of $1,299. This discrepancy suggests that while government-assisted rents are capped at a lower rate, the actual rental market demands higher rates, indicating a potential gap where properties might be undervalued relative to their market position.
The median home value in ZIP 61437 stands at $139,395, which is likely below the average for Henderson County, IL. This could imply that the area is more affordable for first-time homeowners and renters alike. Additionally, the ZIP has a renter share of 20.9%, which is significant but not unusually high, suggesting a moderate demand for rental properties.
Based on these figures, ZIP 61437 can be classified as a value pocket within its metro. The combination of a lower FMR compared to the market rent and a below-average home value, coupled with a notable renter share, indicates that this area offers opportunities for landlords and small-portfolio investors who can capitalize on the difference between government-set rents and market rates. This scenario often signifies a location where Section 8 housing assistance might be particularly beneficial due to the lower cost of living and rental pricing, making it an attractive area for investors looking for stable returns without the need for premium pricing.
However, it's important to note that ZIP 61437's characteristics diverge slightly from the typical Henderson County, IL ZIP codes. Its below-metro home values with a relatively high renter share suggest that it could indeed be a sweet spot for Section 8 properties, offering a balance between affordability and demand for rental units. This makes it a potentially lucrative area for those interested in leveraging the benefits of Section 8 while maintaining competitive market positioning.
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.