Location: Livingston County, IL | Metro: Bloomington, IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 61726 presents a moderate opportunity for landlords interested in attracting Section 8 tenants. With a population of 2,546, approximately 650 residents are renters, indicating that 25.5% of the population lives in rented properties. This percentage suggests that while there is a significant renter base, it is not overwhelmingly dominated by renters, making the demand for rental properties and vouchers somewhat balanced.
The median household income in this area is $77,800, which provides a useful benchmark for assessing the affordability of housing. The typical market rent of $933 per month represents about 12% of the median household income. This figure aligns closely with the Fair Market Rent (FMR) of $950 for FY 2024, indicating that rents are nearly at the FMR threshold, suggesting a competitive market for rental properties.
A landlord in ZIP 61726 can expect a mix of tenants, including those who rely on Section 8 vouchers. Given the close alignment between market rents and the FMR, the demand for rental assistance through vouchers is likely to be present but not overwhelming. Tenants will predominantly be individuals or families whose incomes are below the median, seeking affordable housing options. They will be looking for units that match or are slightly below the FMR, making properties priced around $933 attractive.
To summarize, ZIP 61726 offers a viable market for Section 8 tenants, with a significant but not dominant renter population. Rents are competitive and close to the FMR, making them accessible to those needing rental assistance. Landlords should prepare to attract tenants whose monthly rent will consume a notable portion of their income, approximately 12%, aligning with the economic realities of the area.
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.