Location: Henderson County, IL | Metro: Hancock County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 61454, located in Henderson County, IL metro, reveals that voucher tenants will cashflow at Fair Market Rent (FMR) levels. The HUD FMR for the area is set at $920 per month for the fiscal year 2026, while the Census ACS reports a market rent of $902 per month. This means that landlords accepting Section 8 vouchers can expect to cover their expenses and generate a modest profit without the need for premium units.
The median home value is not available for ZIP 61454, which makes deriving an exact rent-to-price ratio challenging. However, given the low market rents and the lack of significant housing stock data, it's reasonable to assume that rental properties are likely to be more attractive than buying for most residents. The median days on market (DOM) and the percentage of homes that experience price cuts are also not available, but these metrics typically impact buy-versus-rent decisions. In this case, the absence of such data suggests a stable local housing market with limited fluctuations.
The strongest angle for investors in ZIP 61454 is cashflow. With the HUD FMR slightly above the market rent, landlords can secure steady income from voucher tenants while maintaining competitive rates. This ensures a reliable stream of revenue and reduces the risk of vacancies, making the area particularly appealing for those focused on generating consistent 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.