Location: Moultrie County, 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 | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $87,718 | 1.15% | B |
| 3BR | $1,300 | $144,171 | 0.9% | C |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 61913, which includes Atwood in Piatt County, Illinois, can be explained through the SAFMR (Small Area Fair Market Rent) rates set specifically for this ZIP code. For a two-bedroom apartment, the SAFMR for FY 2024 is $990. This is the maximum amount that the Housing Choice Voucher program will pay to landlords for eligible tenants. However, it's important to note that the local market rent, according to the Census ACS, is lower at $848.
A voucher payment consists of two parts: the tenant's portion and the government's portion. The tenant is responsible for paying 30% of their adjusted income towards rent and utilities. If we assume an average adjusted income for a tenant in this area, the calculation would proceed as follows:
If a tenant has an adjusted income of $1,500 per month, they would contribute 30% of that, which is $450. The remaining balance up to the SAFMR of $990 would be covered by the government. In this case, the government would reimburse the landlord $540 ($990 - $450).
The SAFMR of $990 also includes a utility allowance. Landlords should be aware that if the total rent and utility costs exceed the SAFMR, the tenant must cover the difference out-of-pocket. This can sometimes lead to issues with affordability for the tenant.
To illustrate the reimbursement gap or surplus, let's consider a two-bedroom unit rented at the local market rate of $848. In this scenario, the government would still reimburse up to $990. Since the market rate is below the SAFMR, landlords receive the full $848 plus any additional utility allowance without having to adjust the rent downward.
However, if the landlord charges the full SAFMR rate of $990, the government would only reimburse $540 based on the example above, creating a potential reimbursement gap. Conversely, if the landlord charges less than the SAFMR, such as the local market rate of $848, there would be a surplus where the landlord receives the full market rate without having to reduce it to meet the tenant's budget.
In summary, for a two-bedroom unit in ZIP 61913, landlords can expect the government to cover the difference between the tenant's contribution and the SAFMR, ensuring that the total payment does not exceed $990. Given the local market rate of $848, landlords are likely to see a surplus when renting to Section 8 tenants at the market rate, but they must be prepared for a reimbursement gap if they charge the full SAFMR rate.
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.