Location: Vermilion County, IL | Metro: Champaign-Urbana, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The rent math in ZIP 61810 does not favor landlords. The Fair Market Rent (FMR) set at $930 for the fiscal year 2024 is higher than the actual market rent reported by the Census ACS, which stands at $763. This discrepancy means that landlords might struggle to attract tenants willing to pay the higher FMR rate.
Regarding property acquisition, the data indicates that the median home value is not available, nor is the average number of days on the market (DOM) or the percentage of homes that have been discounted. Without these figures, it's challenging to assess the affordability of acquiring properties in this area. However, the lack of specific data points could suggest an underdeveloped or less competitive real estate market.
Tenant demand in ZIP 61810 is modest. With a total population of 265, only 20.2% are renters. This low renter share suggests that there may not be sufficient demand to support multiple rental properties, making it difficult for landlords to find enough tenants to fill their units.
Verdict: ZIP 61810 presents a challenging environment for landlords and small-portfolio investors. The disparity between the FMR and market rent indicates potential difficulties in pricing rentals competitively. Limited data on property acquisition hinders a comprehensive assessment of buying opportunities, while the small renter population poses a risk to maintaining occupancy levels. These factors collectively suggest that investing in this ZIP code may not yield favorable returns.
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.