Location: Moultrie County, IL | Metro: Champaign-Urbana, IL HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
ZIP code 61929, located within Moultrie County, IL, presents a unique snapshot when compared against the typical characteristics of other ZIP codes in the county. The Fair Market Rent (FMR) for 61929 is set at $930 for fiscal year 2024, which exceeds the market rent of $817. This indicates that the rental prices in 61929 are slightly above what the market naturally dictates, potentially due to higher demand or specific housing policies.
The median home value in 61929 stands at $124,172, which is indicative of an affordable housing market. However, it's crucial to juxtapose this figure with the overall trend in Moultrie County, IL. If the home values in other ZIP codes are significantly higher, then 61929 could be considered a value pocket where property investments can be made at relatively lower costs.
A noteworthy point is the 16.7% renter share in 61929. This percentage is significant and suggests a notable portion of the population relies on rental properties. When combined with the FMR being higher than the market rent, this points towards a possible concentration of Section 8 vouchers or other subsidized housing programs in the area. Such conditions can create a sweet spot for landlords and small-portfolio investors looking to capitalize on government-assisted rentals.
To determine if 61929 is a value pocket, mid-tier neighborhood, or premium sub-market, a comparative analysis with other ZIP codes in Moultrie County, IL would be essential. However, based on the provided data, the following conclusions can be drawn:
If other ZIP codes in the county have higher home values and similar or lower renter shares, then 61929 is likely a value pocket. Landlords can acquire properties at a lower cost while still benefiting from rental rates supported by the FMR.
If other ZIP codes exhibit similar home values and renter shares, then 61929 would fall into the mid-tier category. This scenario implies a balanced investment opportunity where neither the property acquisition nor rental income is exceptionally favorable or challenging.
In the event that other ZIP codes in Moultrie County, IL have both higher home values and higher renter shares, 61929 might be seen as a premium sub-market. Here, the slightly elevated FMR and substantial renter share suggest strong potential for rental income, albeit with a competitive landscape.
The divergence between the FMR and market rent, along with the relatively high renter share, points to 61929 being a particularly attractive location for those involved in Section 8 real estate. Investors should consider these factors carefully to gauge the potential returns and risks associated with property investments in this ZIP code.
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.