Location: De Witt County, IL | Metro: De Witt County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
6.0% of the population in ZIP 61778 are renters, indicating a modest demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $1,180, which serves as a benchmark for the maximum allowable rent for Section 8 housing vouchers. In comparison, the actual market rent, as reported by the Census ACS, stands at $670, suggesting that landlords participating in the Section 8 program can charge significantly higher rents without exceeding the FMR limit.
$124,733 is the median home value in ZIP 61778, reflecting a relatively stable real estate market. However, the median income of $59,868 indicates that a substantial portion of residents might find it challenging to afford market rents without assistance. This gap between median income and median home value underscores the importance of affordable housing options such as those supported by Section 8.
The lack of data on the average days on market (DOM) and the percentage of price-cut share suggests limited volatility in property sales and rentals, which could be beneficial for small-portfolio investors looking for stability. With the FMR at $1,180 and the market rent at $670, there is a clear opportunity for landlords to offer competitive rates while still benefiting from the Section 8 subsidy.
Investors should note that the disparity between the median income and the median home value may impact the overall demand for higher-priced homes. The Section 8 program, with its fixed rent limits, provides a reliable source of income for landlords willing to participate, ensuring a steady stream of rental payments regardless of broader economic fluctuations.
Given the data, the Section 8 program presents a viable option for landlords in ZIP 61778, offering a way to fill vacancies with guaranteed, government-backed rental income.
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.