Location: Knox County, IL | Metro: Knox County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,240 |
| 5 Bedrooms | $1,438 |
| 6 Bedrooms | $1,611 |
| 7 Bedrooms | $1,740 |
| 8 Bedrooms | $1,827 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 61448 in the Knox County, IL metro area reveals several key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the region stands at $920 for fiscal year 2026, which is significantly higher than the Census ACS-reported market rent of $614. This indicates that voucher tenants will likely cashflow at the FMR level, providing a solid financial buffer for property owners.
To further understand the investment potential, consider the median home value in the area, which is $150,869. Using this figure, we can calculate the rent-to-price ratio. With an average rent of $614, the annual rental income would be approximately $7,368. Dividing this by the median home value gives us a rent-to-price ratio of about 4.9%. This ratio suggests that the rental market is relatively strong compared to the overall housing prices, making it a favorable environment for investors seeking steady cash flow.
Note that the data does not provide specifics on the median days on market (DOM) or the percentage of homes that have experienced price cuts. However, these metrics typically play a crucial role in assessing the broader real estate market dynamics. In the absence of such data, we can still conclude that the voucher program's FMR is substantially above the current market rent, indicating a positive cash flow scenario for most units, not just premium ones.
The strongest angle for investors in ZIP code 61448 is the potential for significant cash flow due to the disparity between the HUD FMR and the actual market rents. This makes it an attractive option for those looking to maximize their monthly returns through rental income.
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.