Location: Peoria, IL | Metro: Peoria, IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
When considering whether to invest in ZIP 61654 (Unknown, IL) for Section 8 properties, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $990 cover debt service on a property?
No data is available to determine if the FMR of $990 clears debt service on a property in ZIP 61654. Without specific property costs, it's impossible to make this calculation.
2) Is the market rent above, at, or below the FMR?
The market rent data for ZIP 61654 is not provided, making it impossible to compare it against the FMR of $990.
3) Is there sufficient demand for rental properties?
The percentage of renters and days on market (DOM) are not specified for ZIP 61654. Therefore, it's unclear whether the demand is strong enough to support Section 8 investments.
Given the lack of specific data points such as market rents, property costs, and demand metrics, a definitive recommendation cannot be made. Landlords need to research these factors independently to make an informed decision about investing in ZIP 61654 for Section 8 properties.
Data Sources: FMR data from HUD (2027).
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.