Location: Schuyler County, IL | Metro: McDonough County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $760 |
| 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 |
U.S. Census Bureau data (2024)
ZIP 61440, located in Schuyler County, IL, can serve as a cash-flow anchor within a Section 8 portfolio strategy. This classification is based on the significant spread between the Fair Market Rent (FMR) for the metro area in fiscal year 2026, which is set at $920, and the current market rental rates, estimated at $790. The difference of $130 between the FMR and market rates provides a substantial buffer for landlords, ensuring they receive above-average rental income.
The median home value in ZIP 61440 stands at $88,964, indicating that the area is predominantly composed of affordable housing units. This characteristic makes it particularly suitable for tenants who rely on government assistance programs such as Section 8. The low median home value also suggests that property acquisition costs could be relatively low, making it an attractive option for small-portfolio investors looking to maximize their cash flow per unit.
While the area does not present strong indicators for appreciation plays, given the lack of specific data on price-cut shares and days on market (DOM), it still offers potential for diversification. With a 12.4% renter share, there is a notable presence of tenants who might benefit from or require subsidized housing options. Additionally, the median income of $66,786 supports the notion that a portion of the population would be eligible for Section 8 benefits, further solidifying the area's role as a cash-flow anchor.
In summary, ZIP 61440 is best suited as a cash-flow anchor due to its favorable FMR to market rate spread and affordable housing market. Landlords and small-portfolio investors can expect stable and potentially higher-than-market rental incomes from properties in this area when participating in Section 8 programs.
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.