Location: Warren County, IL | Metro: Henderson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The ZIP code 61478 presents a unique snapshot of the real estate market, characterized by specific metrics that offer insight into its current state and potential future direction. With a Fair Market Rent (FMR) of $970 for the fiscal year 2026, this figure suggests a stable baseline for rental pricing, although the lack of data on current market rents leaves some ambiguity regarding immediate rental pressures.
The median home value in ZIP 61478 stands at $155,303. This figure is indicative of an affordable market segment, which can attract first-time buyers and those seeking more economical housing options. The absence of data on price-cut shares and days on market (DOM) prevents a direct assessment of whether supply currently outpaces demand or vice versa. However, the combination of an affordable median home value and a defined FMR implies a balanced market, where neither buyers nor sellers hold a significant advantage.
A particularly noteworthy statistic is the 0.0% renter share, which suggests that the vast majority of residents in ZIP 61478 own their homes. This low renter share can be interpreted as a sign of limited long-term housing pressure, as it indicates a preference for homeownership over renting. In such a market, landlords might find it challenging to attract tenants, given the strong inclination towards owning property. However, for small-portfolio investors, this could present opportunities in niche markets, such as vacation rentals or short-term lets, catering to visitors or seasonal workers.
The dynamics of ZIP 61478 suggest a mature market with a focus on homeownership. Landlords should consider diversifying their offerings or targeting specific segments to remain competitive. Small-portfolio investors looking to enter the rental market here must weigh the challenges against the potential rewards, especially considering the area's affordability and the defined FMR that provides a clear benchmark for rental pricing.
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.