Location: Edgar County, IL | Metro: Clark County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 61933, as set by the U.S. Department of Housing and Urban Development for metro fiscal year 2026, is $1,000. This figure represents the payment standard for Section 8 housing vouchers in the area. It's important to note that this does not mean you will receive $1,000 in rent; it's the maximum amount that the government will pay toward the rent on behalf of eligible tenants.
In ZIP 61933, the average rent for properties listed in the Census American Community Survey (ACS) is $726. This suggests that the FMR is higher than the typical market rate, which can be advantageous for landlords. However, the actual rent you charge must be reasonable and comparable to similar units in the area. Therefore, while the FMR is $1,000, your rent should not significantly exceed $726 to remain competitive and attractive to voucher holders.
The renter share in ZIP 61933 is 23.5%, indicating that nearly a quarter of the households in the area are renters. This provides a solid demand for rental properties, especially those that accept Section 8 vouchers. Landlords can expect a steady stream of potential tenants who are looking for affordable housing options.
The median household income in the area is $96,830, which gives landlords an idea of the economic conditions and the potential acquisition costs for rental properties. Properties priced above this figure might be challenging to purchase, but it also indicates the financial stability of the local population, which can translate into reliable tenants.
Before deciding to participate in the Section 8 program with your first rental property in ZIP 61933, ensure that your unit meets all the required inspection criteria. The Housing Quality Standards (HQS) inspection is mandatory, and passing it is crucial for acceptance into the program. This verification step is essential to avoid any delays or rejections that could impact your ability to secure a tenant.
With these considerations in mind, landlords and small-portfolio investors can make informed decisions about entering the Section 8 market in ZIP 61933. The combination of a reasonable FMR and a strong local rental market presents a viable opportunity for those willing to comply with the necessary requirements.
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.