Location: Ford County, IL | Metro: Ford County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
ZIP code 61773, located within the Ford County, IL HUD Metro FMR Area, exhibits several characteristics that distinguish it from the typical ZIP codes in this region. The Fair Market Rent (FMR) for ZIP 61773 is set at $1,100 for fiscal year 2026, which is lower than the market rent of $1,281. This suggests that the area is somewhat affordable for renters compared to the broader market, potentially attracting tenants who are seeking cost-effective housing options.
The median home value in ZIP 61773 stands at $143,550, which is indicative of an affordable residential market. Given the relatively low FMR and market rent, landlords and small-portfolio investors can leverage these figures to offer competitive rental rates while still maintaining profitability. The renter share in ZIP 61773 is 23.6%, slightly above the average for the county. A higher renter share combined with below-average home values often points to a favorable environment for Section 8 housing, as it indicates a significant portion of the population relies on rental assistance programs.
Compared to other ZIP codes within the Ford County, IL HUD Metro FMR Area, ZIP 61773 appears to be a value pocket. The combination of a lower FMR, a reasonable market rent, and a moderate renter share makes it attractive for landlords who are looking to participate in the Section 8 program. Additionally, the below-median home value supports the notion that this area could be particularly appealing for investors seeking properties that offer good returns without the need for high-end renovations or maintenance.
In summary, ZIP 61773 presents itself as a promising value pocket within the Ford County, IL HUD Metro FMR Area. Landlords and small-portfolio investors should consider the potential for Section 8 participation, given the alignment of the FMR, market rent, and renter share with the criteria that often define areas as sweet spots for subsidized housing.
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.