Location: Henderson County, IL | Metro: Henderson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The ZIP code 61469 presents a modest opportunity for landlords and small-portfolio investors looking to attract Section 8 tenants. With a population of 1,818, only 9.0% of residents are renters, indicating that this area is predominantly homeowner-dominated rather than renter-heavy. The median household income stands at $54,932, which provides a baseline for understanding the economic context of potential tenants.
In terms of rental affordability, the average market rent of $445 represents approximately 8.1% of the median household income. This figure suggests that typical rents are relatively affordable compared to the income levels of the residents in this ZIP code. However, when considering the Fair Market Rent (FMR) of $920 for FY 2026, it becomes evident that the market rent in ZIP 61469 is significantly below the FMR, implying that there could be a scarcity of vouchers available due to the lower demand relative to higher-cost areas.
The kind of tenant profile a landlord in ZIP 61469 should expect is someone who has a strong preference for homeownership but is currently renting due to financial constraints or other circumstances. These tenants are likely to be price-sensitive and may require assistance through housing vouchers to afford their living situation. Given the low percentage of renters and the modest income levels, landlords might find that tenants who use Section 8 vouchers will be a smaller segment of the overall rental market.
To conclude, while ZIP 61469 offers an environment where rental properties can be priced reasonably within the reach of local incomes, the limited number of renters and the disparity between market rent and FMR indicate that the availability of Section 8 vouchers is likely to be lower. Landlords should prepare for a niche market of tenants who may rely on housing assistance but also be aware of the broader trend towards homeownership in the area.
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.