Location: Douglas County, IL | Metro: Champaign-Urbana, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 61852 is poised for a nuanced analysis, particularly for landlords and small-portfolio investors. The median home value in this area is currently listed as N/A, which suggests that there is limited data available for a precise valuation. However, the fact that N/A% of listings have been reduced indicates a potential shift towards a buyer's market. This reduction in asking prices can be seen as a signal that sellers are becoming more flexible, possibly due to prolonged listing durations. The median days on market (DOM) being N/A days points to a slower-moving market, where homes are taking longer to sell, further supporting the notion of increased buyer leverage.
On the rental side, the Fair Market Rent (FMR) for ZIP 61852 is set at $1000 for the fiscal year 2024, compared to the N/A market rate. This suggests that rental prices may be stabilizing or even slightly declining if the FMR is below the current market rate. For long-term investors, the setup implies a scenario where maintaining consistent rental income might be challenging if the market rate continues to trend downward towards the FMR. The lack of specific appreciation figures for the area indicates that growth in property values could be modest or uncertain over the next 12-24 months. Investors should focus on areas with strong fundamentals such as job growth, population increase, or new infrastructure developments to ensure a steady return on investment.
In summary, the combination of reduced listings and extended DOM periods signals a market where pricing power is shifting towards buyers. For those considering investments in ZIP 61852, the current setup suggests a cautious approach, with an emphasis on understanding local economic trends and the potential for rental price adjustments. Long-term appreciation appears to be a less reliable strategy without additional data pointing to robust growth drivers in the region.
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.