Section 8 Fair Market Rent (FMR) for ZIP 61730 - 2027

Location: Bloomington, IL | Metro: Bloomington, IL MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$880
1 Bedroom	$930
2 Bedrooms	$1,200
3 Bedrooms	$1,570
4 Bedrooms	$1,580
5 Bedrooms	$1,833
6 Bedrooms	$2,053
7 Bedrooms	$2,217
8 Bedrooms	$2,328

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

361

Median Household Income

$76,719

Housing Units

172

Renter Percentage

27.5%

Occupancy Rate

86.6%

Renter Occupied

The ZIP code 61730, located in Illinois, is a suburban area characterized by a mix of residential neighborhoods and small commercial developments. This region offers a stable environment for real estate investments, particularly for those interested in rental properties due to its specific demographic and economic characteristics.

The Fair Market Rent (FMR) for ZIP 61730 in fiscal year 2024 is set at $980, indicating the average rent price for a two-bedroom apartment that falls within the range considered fair for the area.
The market rent, according to the Census Bureau's American Community Survey, is currently at $935, slightly below the FMR but still reflective of the local demand and affordability.
The median home value in this ZIP code stands at $184,582, which is a reasonable investment cost for acquiring properties in the area.
Renters make up 27.5% of the population, suggesting a significant portion of the residents are looking for affordable rental options, making rental properties a viable investment choice.
The median income in ZIP 61730 is $76,719, providing insight into the financial capacity of the residents to afford housing costs.

Given these metrics, investors can expect a balanced market where rental properties offer a steady return on investment without the volatility seen in some urban areas. The slight gap between the FMR and market rent suggests there is room for modest increases in rental pricing. With a median home value of $184,582, the acquisition cost is manageable, and the 27.5% renter share indicates a consistent demand for rental units. However, investors should consider the median income level when setting rents to ensure affordability and occupancy rates. Overall, ZIP 61730 presents a stable and attractive opportunity for real estate investment, especially for those focused on the rental sector.

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.