Location: Vermilion County, IL | Metro: Vermilion County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
ZIP code 61841, located within Vermilion County, IL, presents a unique snapshot when compared to the broader county metrics. The Fair Market Rent (FMR) for ZIP 61841 is set at $830 for fiscal year 2024, slightly above the market rent of $783. This indicates that while it is not a premium sub-market, it does offer a competitive edge in terms of rental income expectations.
The median home value in ZIP 61841 stands at $155,016, which is notably lower than what might be expected in a premium sub-market. This suggests that 61841 could be considered a value pocket within the Vermilion County metro, offering opportunities for landlords and small-portfolio investors looking for affordable entry points.
A significant point of interest is the renter share in ZIP 61841, which is 12.4%. This percentage is higher than the average for many areas within Vermilion County, hinting at a stronger demand for rentals. Coupled with the relatively low home values, this can signal a potential sweet spot for Section 8 housing opportunities.
To summarize, ZIP 61841 is best characterized as a value pocket within the Vermilion County, IL metro. It offers a balance between modest property values and a slightly elevated FMR, along with a higher-than-average renter share. These factors make it an attractive area for investors interested in Section 8 properties, where the alignment of rents and home values can present profitable investment 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.