Location: Schuyler County, IL | Metro: Fulton County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 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 61484 stands out due to its relatively low number of residents at 738, with 19.6% of them renting their homes. The median income in this area is $48,462, which indicates a modest economic profile. Notably, the median home value is not available, suggesting that homeownership data might be sparse or inconsistent, possibly due to the small population size.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 61484 is set at $810 for fiscal year 2024, while the market rent based on Census American Community Survey (ACS) data is $704. This discrepancy means that landlords accepting Section 8 vouchers can expect higher rental payments compared to the local market average, making it a potentially attractive option. The difference between the FMR and market rent amounts to an additional $106 per month, providing a clear financial incentive for landlords to participate in the Section 8 program.
The data signature for ZIP 61484 reads as stable. Despite the limited median home value data, the other metrics suggest a consistent environment where the rental market is slightly below the federal guidelines, offering a predictable scenario for landlords. The modest median income also points towards a steady, if not high-growth, economic landscape. Therefore, landlords and small-portfolio investors should consider the benefits of the higher FMR rates when evaluating properties in this ZIP code.
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.