Location: Knox County, IL | Metro: Knox County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,320 |
| 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 housing market in ZIP code 61467, located in the Knox County, IL metro area, offers a favorable environment for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $1,040 for fiscal year 2026, which is notably higher than the average market rent of $828 based on Census ACS data. This means that voucher tenants will typically generate positive cash flow for property owners, even without premium units.
To further understand the investment potential, consider the median home value of $132,971. Using the HUD FMR of $1,040, we can calculate a rent-to-price ratio of approximately 0.92%, indicating that rental income represents a significant portion of the property's value. This makes the area attractive for investors looking to capitalize on steady rental income.
Note that the median Days on Market (DOM) and the percentage of properties that experienced price cuts are not available. However, given the favorable rent-to-price ratio and the positive cash flow generated by voucher tenants, it suggests that the rent-vs-buy dynamics are skewed towards renting, making it a strong market for landlords.
The strongest investor angle in ZIP 61467 is cash flow. With voucher tenants paying above the market rent, landlords can expect consistent and reliable income, which is crucial for the success of any rental property investment.
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.