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 61728 stands out due to its unique demographic and economic characteristics. With a population of 1,359 residents, it has a relatively low rental rate of 22.8%, indicating that a majority of the residents own their homes. The median income for the area is $97,159, which is higher than the national average, and the median home value is $166,234, suggesting a stable and affluent community.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 61728 is set at $930 for fiscal year 2024. This is notably above the Census-reported market rent of $875, providing a clear advantage to landlords who accept vouchers. The discrepancy between the FMR and the market rent means that landlords can potentially receive higher rents through the Section 8 program compared to the typical market rates.
The data signature for ZIP 61728 reads as "stable." The high median income and median home value indicate a financially secure community. While the rental rate is lower than many other areas, the favorable voucher economics make it an attractive option for landlords. The higher FMR relative to market rent ensures that landlords can benefit from a steady income stream without the risk of fluctuating market conditions.
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.