Location: Vermilion County, IL | Metro: Vermilion County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 61811 reveals a favorable environment for cashflow generation. The HUD Fair Market Rent (FMR) for the area is set at $970 for fiscal year 2024, which is higher than the market rent reported by the Census American Community Survey (ACS) at $922. This indicates that voucher tenants will cashflow at FMR levels, providing a steady income stream for landlords and small-portfolio investors.
To further analyze the investment potential, consider the median home value in the area, which stands at $161,423. Using this figure, we can derive a rent-to-price ratio. At $922 per month, the annual rent is approximately $11,064, leading to a rent-to-price ratio of about 6.85%. This ratio suggests that rental properties are undervalued relative to their market price, making them an attractive investment for those looking to capitalize on this discrepancy.
The days on market (DOM) and the percentage of price cuts are not applicable in this scenario, as they typically pertain to the sale of homes rather than rental dynamics. However, given the favorable cashflow conditions, these metrics are less critical for determining the investment attractiveness in the rental market.
In conclusion, the strongest angle for investors in ZIP code 61811 is the potential for robust cashflow due to the higher FMR compared to market rent, combined with the relatively low median home values. This makes it an ideal location for those seeking stable, positive cashflow opportunities.
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.