Location: Champaign-Urbana, IL | Metro: Champaign-Urbana, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The ZIP code 61936 presents a unique market dynamic, framed by the snapshot of available data. With a Fair Market Rent (FMR) set at $930 for fiscal year 2024, landlords and small-portfolio investors must navigate a landscape that lacks some critical metrics, such as the current market rent, days on market (DOM), and median home value. This absence of information can be indicative of either a nascent market or one that has yet to attract significant attention from real estate analysts.
The 0.0% renter share statistic is particularly noteworthy. It suggests that the vast majority of residents in ZIP 61936 own their homes rather than renting, which could point to a stable, long-term community with little immediate pressure for rental properties. However, it also implies that there might be underlying conditions making homeownership more accessible or preferable over renting, such as lower property values or limited rental stock.
In terms of supply versus demand, the lack of a price-cut share percentage and days on market data makes it challenging to draw definitive conclusions. Typically, a high price-cut share would indicate a surplus of supply, with landlords and sellers lowering prices to attract tenants or buyers. Conversely, a low price-cut share and shorter DOM periods would suggest a market where demand is robust relative to supply. Given the missing data, we cannot assert whether supply currently outpaces demand or vice versa. However, the FMR figure serves as a benchmark for rental pricing, guiding landlords on what they should aim to charge to remain competitive and viable in federal subsidy programs.
The dynamics of ZIP 61936 thus revolve around understanding the implications of the given data points while recognizing the limitations posed by the missing information. Landlords and investors must be cautious not to rely solely on the FMR as an indicator of market health but should also consider broader economic factors affecting the region, such as employment rates, population growth, and overall housing trends.
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.