Location: De Witt County, IL | Metro: Bloomington, IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The ZIP code 61745, located within the De Witt County, IL metro area, presents a unique snapshot when compared against typical ZIP codes in the county. With a Fair Market Rent (FMR) set at $980 for fiscal year 2024, it closely mirrors the market rent of $967. This parity suggests that rental properties in 61745 are competitively priced, aligning well with what tenants can expect to pay in similar areas.
The median home value in 61745 stands at $258,595, which is indicative of a middle-tier neighborhood within the metro area. This figure neither suggests a premium sub-market nor a value pocket but rather a balanced segment where property values reflect a moderate cost of living. However, the presence of a significant 14.1% renter share, while not exceptionally high, does point towards a noteworthy portion of the population relying on rental housing. This percentage is particularly interesting when considered alongside the home values, as it does not suggest an unusually high concentration of low-income households.
Typically, a higher renter share coupled with lower-than-average home values might indicate a potential sweet spot for Section 8 investors. In the case of 61745, though the renter share is above average, the home values do not appear to be notably lower than the metro average, suggesting that the ZIP code is not necessarily a value pocket for Section 8 investments. Instead, it appears to be a stable mid-tier neighborhood where rental properties are reasonably priced and the demand for rentals is steady.
To conclude, 61745 offers landlords and small-portfolio investors a moderate investment opportunity within the De Witt County, IL metro area. The competitive rental prices and home values provide a balanced environment for rental income without the risk or reward associated with premium or value pockets. The notable renter share indicates a consistent demand for rental units, making it a worthwhile consideration for those looking to invest in a stable, moderately valued sub-market.
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.