Location: Champaign-Urbana, IL | Metro: Champaign-Urbana, IL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,300 | $277,293 | 0.47% | F |
| 4BR | $1,340 | $359,686 | 0.37% | F |
U.S. Census Bureau data (2024)
The ZIP code 61873 stands out within its county due to a unique combination of demographic and economic factors. With a population of 5,779 residents, it has a relatively low rental rate at 16.4%, indicating that homeownership is prevalent. The median income of $117,578 surpasses many other areas, reflecting a higher standard of living. Additionally, the median home value of $278,190 suggests a stable housing market where property values are robust.
When analyzing the Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 61873 in fiscal year 2024 is set at $930, which is slightly below the market rent of $962 according to the Census ACS. This indicates that landlords might see a slight disadvantage if they only accept vouchers, as the FMR does not fully cover the market rent. However, the difference is minimal, and the high median income supports the potential for tenants to contribute additional funds towards rent.
The data signature for ZIP 61873 reads as predominantly stable. The strong median income and home values suggest that the area is economically sound, with residents capable of maintaining their properties and contributing to the local economy. While the rental rate is low, this could be an opportunity for landlords to capitalize on the demand for affordable housing, especially with the support of Section 8 vouchers. Despite the minor discrepancy between FMR and market rent, the overall economic indicators point towards a stable environment that is favorable for long-term investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.