Location: Edgar County, IL | Metro: Edgar County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 61932, set at $1,170 for the metro area fiscal year 2026, represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing voucher program. This figure does not reflect the actual rent you will charge your tenants but rather the maximum amount HUD will pay on behalf of a tenant receiving assistance.
In ZIP 61932, the average market rent according to recent Census American Community Survey (ACS) data is $854. This means that HUD's FMR of $1,170 is significantly higher than the local average, providing a potential opportunity for landlords to earn more than they might through traditional rental agreements.
The 24.8% share of renters in this area indicates a moderate demand for rental properties. However, with the Section 8 program, there is a guaranteed pool of tenants who qualify for assistance and can afford to live in your property, given it meets certain standards and is priced within the guidelines.
Note that the acquisition cost is listed as N/A, which typically means that the specific cost data for purchasing or building a rental property in this ZIP code is not available. Despite this, the FMR being higher than the average local rent suggests that landlords could still find profitability in participating in the Section 8 program.
Before proceeding with a Section 8 rental in ZIP 61932, ensure your property meets HUD's housing quality standards (HQS). These standards are designed to ensure that rental units are safe, decent, and sanitary for tenants. Verifying compliance with these standards is essential as it directly affects whether your property can be approved for the Section 8 program.
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.