Location: Putnam County, IL | Metro: Peoria, IL MSA
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 | $690 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $241,488 | 0.51% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 61560 reveals it to be a low-renter market with limited potential for high yields and relatively stable conditions. With a Fair Market Rent (FMR) of $810 for the fiscal year 2024, the rental market is sparse given the reported 0.0% of renters. This indicates that the majority of residents are homeowners rather than tenants.
The median home value in ZIP 61560 is $218,482, which is below the national average of $366,019. However, the lack of specific market rent data suggests that there might not be a significant number of rental properties in the area, making it less attractive for landlords looking to maximize cash flow through traditional rental investments.
The average household income in this ZIP code is $73,333, providing some insight into the economic stability of the area. While this figure is not exceptionally high, it does suggest that residents are capable of maintaining their homes, contributing to the overall stability of the market.
Given these factors, ZIP 61560 is best classified as a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The scarcity of rental properties and the presence of a homeowner-dominated community indicate a market where property flipping would be challenging due to the low percentage of renters. Instead, investors should focus on long-term, stable investments that benefit from the consistent economic conditions and lower risk associated with fewer rental turnovers.
To further substantiate this classification, additional research on the local rental market dynamics and property turnover rates would be beneficial. Nonetheless, based on the available data, ZIP 61560 offers a moderate investment opportunity with a focus on stability over high yield.
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.