Location: Decatur, IL | Metro: Champaign-Urbana, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
To incorporate ZIP 61818 into a Section 8 portfolio strategy, consider it primarily as a cash-flow anchor. The Fixed Monthly Rent (FMR) for ZIP 61818 in fiscal year 2024 is set at $930, which is higher than the average market rent of $846. This spread ensures that properties within this ZIP code will consistently generate positive cash flow for landlords participating in the Section 8 program.
The median home value in ZIP 61818 stands at $139,189, indicating that property acquisition costs are relatively low compared to other areas. This makes it easier for landlords to achieve a good return on investment through rental income. Given the current FMR, landlords can expect a monthly surplus over market rates, enhancing their overall financial stability and providing a reliable source of income.
While there are no specific figures provided for appreciation potential, such as price-cut shares or days on market (DOM), the existing data supports the idea that ZIP 61818 serves well as a cash-flow anchor. The lack of significant appreciation indicators suggests that landlords should focus on the steady income rather than rapid property value growth.
The ZIP code also features a 17.9% renter share, which means that nearly one-fifth of the population rents their homes, providing a solid tenant pool for Section 8 properties. Additionally, the median income of $84,375 indicates a stable economic environment where tenants are likely to have consistent employment and income, reducing the risk of non-payment.
In summary, ZIP 61818 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. With an FMR of $930 surpassing the market rent of $846, landlords can secure predictable and positive cash flows. The low median home value of $139,189 further enhances the profitability of properties in this area. While appreciation opportunities are not highlighted, the strong tenant base and stable income levels make it a reliable choice for generating steady 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.