Location: Warren County, IL | Metro: McDonough County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The ZIP code 61475 presents a mixed landscape for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 180 residents and only 13.8% identified as renters, this area leans towards being homeowner-dominated rather than renter-heavy. This suggests that the demand for rental properties, especially those accepting Section 8 vouchers, may be relatively low compared to more densely populated areas with higher percentages of renters.
The median household income in ZIP 61475 is $85,000, which places it above the national average. The market rent for the area stands at $646, representing approximately 7.6% of the median income. This percentage indicates that typical rent consumes a modest portion of the local income, making it easier for tenants to afford housing even without assistance programs like Section 8.
Comparing the market rent to the Fair Market Rent (FMR) of $960, which is set for fiscal year 2026 and applies to the metro area, reveals that the actual rents in ZIP 61475 are below the FMR. This discrepancy suggests that landlords who accept Section 8 vouchers can still find themselves within the allowable rent range for the program, potentially attracting tenants who might otherwise struggle to find affordable housing in the broader metro area.
A landlord in ZIP 61475 should expect a tenant profile that includes individuals and families with incomes at or below the poverty line, who rely on government assistance to cover their housing costs. These tenants will likely have a strong need for stable, affordable housing options but may also present challenges related to income verification and timely rent payments. Given the lower overall rent burden relative to income, landlords can anticipate that Section 8 tenants in this area will generally have enough disposable income to manage other living expenses and possibly contribute to the local economy.
In summary, while ZIP 61475 is not heavily dominated by renters, the combination of a median income above $85,000 and market rents at $646 means that landlords can effectively participate in the Section 8 program. The lower-than-FMR rents provide a buffer for landlords to remain competitive and within program guidelines, while also offering affordable housing solutions to those in need.
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.