Location: Peoria, IL | Metro: Peoria, IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
ZIP 61771, located within the Peoria, IL MSA, serves as a cash-flow anchor in a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 61771 in fiscal year 2024 is set at $1060, which is significantly higher than the current market rent of $782. This creates a strong positive spread of $278 per unit, ensuring that landlords can maintain steady and reliable cash flow.
The median home value in ZIP 61771 is $218,317, indicating a relatively affordable area where Section 8 vouchers can be effectively utilized. Given the disparity between FMR and market rent, landlords who invest in properties here can expect to receive rents that exceed the local average, thereby enhancing their profitability and cash flow stability.
While ZIP 61771 does not offer significant opportunities for appreciation plays due to the lack of specific data on price-cut shares and days on market (DOM), it does provide a solid foundation for diversification. With a renter share of 4.6%, landlords can ensure that their investment is spread across different types of tenants, reducing risk. Additionally, the median income of $101,600 suggests a stable economic environment, supporting the reliability of tenant payments and overall portfolio performance.
In conclusion, ZIP 61771 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The substantial difference between the FMR and market rent guarantees consistent financial returns, making it an ideal choice for landlords and small-portfolio investors looking to secure dependable cash flow without relying on speculative appreciation.
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.