Location: Bloomington, IL | Metro: Bloomington, IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The ZIP code 61736, with a population of 2,673, has a relatively low percentage of renters at 10.3%. This indicates that it is not a renter-heavy area but rather a homeowner-dominated ZIP. The scarcity of renters suggests that the demand for Section 8 vouchers may be limited.
The median household income in this ZIP is $110,444, which is significantly higher than the typical market rent of $948. To put this into perspective, the average rent eats up only about 10.8% of the local median income. This makes it an attractive location for tenants who can afford market rates without assistance.
Comparing the market rent to the Fair Market Rent (FMR) of $1,310 for FY 2024, we see that the actual rent is below the FMR. This discrepancy could mean that landlords have room to increase their rents slightly without pricing out potential tenants, especially those with Section 8 vouchers.
A landlord in ZIP 61736 should expect a tenant profile that includes individuals or families who are financially stable enough to cover rent without needing substantial assistance. Given the low renter percentage and high median income, tenants with Section 8 vouchers will likely represent a smaller portion of the rental market here.
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.