Section 8 Fair Market Rent (FMR) for ZIP 61754 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,040
1 Bedroom	$1,100
2 Bedrooms	$1,420
3 Bedrooms	$1,850
4 Bedrooms	$1,890
5 Bedrooms	$2,192
6 Bedrooms	$2,455
7 Bedrooms	$2,651
8 Bedrooms	$2,784

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,131

Median Household Income

$98,681

Housing Units

460

Renter Percentage

16.8%

Occupancy Rate

90.7%

Renter Occupied

The ZIP code 61754, located in central Illinois, offers a stable and modest real estate market that is particularly attractive for landlords and small-portfolio investors interested in Section 8 properties. The area's demographics and rental market dynamics provide a solid foundation for investment opportunities.

The Fair Market Rent (FMR) for ZIP 61754 in fiscal year 2024 is set at $1,370, which reflects the average monthly rental cost for a two-bedroom apartment under the Section 8 program.
The actual market rent for the area, according to the Census Bureau's American Community Survey (ACS), is $1,118, indicating a slightly lower average rent compared to the FMR, which could suggest a favorable margin for landlords participating in the Section 8 program.
The median home value in ZIP 61754 stands at $183,811, making it an affordable option for both homeowners and investors looking to purchase properties without breaking the bank.
Renters make up 16.8% of the housing stock, showing a moderate demand for rental properties and suggesting that there is room for growth in the rental market.
The median income for residents in this ZIP code is $98,681, which provides insight into the financial stability of potential tenants and their ability to meet rental obligations.

Investors should note that the Fair Market Rent exceeds the current market rent, providing a buffer that ensures Section 8 payments can cover operating costs and leave a profit margin. With a median home value well below the national average, acquiring properties in ZIP 61754 remains cost-effective. The moderate renter share suggests a balanced market, while the relatively high median income supports tenant reliability. These factors collectively indicate a promising investment climate for those seeking to enter or expand their presence in the Section 8 housing sector within this ZIP code.

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.