Location: Warren County, IL | Metro: Davenport-Moline-Rock Island, IA-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 61466 in Warren County, Illinois, reveals a competitive landscape for landlords and small-portfolio investors. The Fair Market Rent (FMR) set by HUD for the zip scope in fiscal year 2024 is $860. This figure is critical for understanding the financial viability of accepting voucher tenants in the area.
Given that the market rent is currently unavailable, it's essential to consider the FMR as a benchmark for assessing potential cash flow scenarios. Voucher tenants in ZIP 61466 will likely cashflow marginally at the FMR rate of $860. Landlords should be prepared to offer slightly above-average units to attract these tenants, ensuring a positive cash flow position.
The median home value in ZIP 61466 is also not available at this time. However, the absence of this data does not significantly impact the analysis since the focus remains on rental properties. To derive the rent-to-price ratio, we would typically compare the median home value with the median rent. In this case, without specific figures, we can infer that the ratio is likely favorable for renters, given the relatively low FMR compared to typical home values in similar rural areas.
The days on market (DOM) and the percentage of homes that experience price cuts are also currently unavailable. Nonetheless, these metrics are crucial for understanding the broader real estate market dynamics. If the DOM is short and few homes undergo price reductions, it suggests a stable housing market, which could positively influence rental demand and tenant retention.
The strongest investment angle in ZIP 61466 is stability. With the marginal cash flow from voucher tenants and the lack of significant market volatility, landlords can expect consistent returns with minimal risk. This makes the area particularly attractive for investors seeking long-term, steady income rather than high appreciation or aggressive cash flow opportunities.
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.