Location: Peoria, 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 | $880 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $930 | $71,254 | 1.31% | A |
| 2BR | $1,170 | $121,291 | 0.96% | C |
| 3BR | $1,500 | $201,991 | 0.74% | D |
| 4BR | $1,650 | $261,029 | 0.63% | D |
| 5BR | $1,914 | $285,237 | 0.67% | D |
U.S. Census Bureau data (2024)
The classification of ZIP code 61611 in East Peoria, IL, hinges on the balance between yield and stability. The Federal Market Rent (FMR) for 2024 stands at $880, which is notably lower than the market rent of $939. This suggests that while landlords can expect a slight premium over the FMR, the overall rental environment is relatively stable.
The median home value of $182,653 indicates a middle-tier market, where property values are neither extremely high nor low. Coupled with the average household income of $78,750, it becomes evident that the area supports a moderate level of economic activity without the volatility often seen in higher-end markets.
With 20.4% of residents being renters, the market leans towards a more owner-occupied neighborhood. However, this does not preclude opportunities for rental investments, especially considering the 12-day days-on-market (DOM) statistic, which implies that rental properties are quickly occupied once listed. This quick turnover can be beneficial for landlords seeking consistent cash flow.
In summary, ZIP 61611 is best characterized as a steady-cashflow zone. The yield, driven by a modest difference between the FMR ($880) and the market rent ($939), combined with the stability factors such as the 20.4% rental rate and a quick 12-day DOM, supports this classification. The median home value and income levels also point to a balanced market that is unlikely to experience significant fluctuations in the near future.
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.