Location: Fulton County, IL | Metro: Fulton County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $126,222 | 1.02% | B |
U.S. Census Bureau data (2024)
The market in ZIP 61542 presents a dynamic equilibrium between rental and ownership costs, indicating a steady environment for both landlords and small-portfolio investors. The Fair Market Rent (FMR) stands at $810 for the fiscal year 2024, while the actual market rent, according to the Census American Community Survey (ACS), is $599. This discrepancy suggests that the rental market is currently experiencing lower demand relative to the FMR, which is set by HUD to reflect the average rent for decent, safe, and sanitary housing.
The median home value in the area is $98,354, reflecting a relatively affordable market for potential homeowners. However, the significant gap between FMR and market rent indicates that there might be a segment of the population finding it more cost-effective to rent rather than buy. The 23.0% renter share is noteworthy as it points to a substantial portion of the population choosing to rent, which can imply ongoing long-term housing pressure. In such a scenario, landlords can expect a steady demand for rental properties, though they should remain attentive to market conditions and adjust their strategies accordingly.
The lack of data on price-cut share and days on market (DOM) for rentals means we cannot definitively state whether supply is outpacing demand or vice versa. However, given the lower market rent compared to the FMR, it's reasonable to infer that there is some level of oversupply or at least balanced supply in the rental sector. For investors looking to enter the market, this could mean that rental properties are available but may require competitive pricing to attract tenants.
In summary, ZIP 61542 offers a stable rental market with a noticeable preference for renting over owning, evidenced by the high renter share and the disparity between FMR and market rent. Landlords and investors should focus on maintaining competitive rental rates and being aware of the broader economic factors that influence housing decisions in the area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.