Location: Peoria, IL | Metro: Peoria, IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 61479 stands out due to its unique demographic and economic characteristics. With only 95 residents, it is one of the smallest communities in terms of population size. Notably, there is a complete absence of rental properties, indicated by the 0.0% renting statistic. This suggests that the area is predominantly composed of owner-occupied homes, which is unusual given the lack of a reported median home value. The median income for the residents is a robust $135,313, positioning this ZIP code among higher-income brackets.
In the context of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 61479 has been set at $820 for fiscal year 2024. However, the absence of a defined market rent figure (N/A) implies that there is either insufficient data or no active rental market to establish a reliable benchmark. This creates an interesting scenario where landlords might find limited opportunities to participate in the Section 8 program due to the non-existent rental market.
The data signature for ZIP 61479 reads as "stable." The high median income suggests financial stability among the homeowners, while the lack of rental properties indicates a settled community with little to no transitional housing needs. The absence of fluctuation in the rental market, as evidenced by the N/A market rent, further supports the stable classification. Landlords and small-portfolio investors should be aware of these conditions and consider the limited applicability of Section 8 vouchers in this ZIP code when making investment decisions.
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.