Section 8 Fair Market Rent (FMR) for ZIP 61937 - 2027

Location: Moultrie County, IL | Metro: Champaign-Urbana, IL HUD Metro FMR Area

Investment Score for ZIP 61937

N/A

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$850
1 Bedroom	$860
2 Bedrooms	$1,010
3 Bedrooms	$1,300
4 Bedrooms	$1,550
5 Bedrooms	$1,798
6 Bedrooms	$2,014
7 Bedrooms	$2,175
8 Bedrooms	$2,284

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,300	$169,082	0.77%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,782

Median Household Income

$61,295

Housing Units

819

Renter Percentage

29.1%

Occupancy Rate

89.7%

Renter Occupied

214

The ZIP code 61937, located in Illinois, offers a stable real estate market for both landlords and small-portfolio investors. The area has a mix of single-family homes and rental properties, providing opportunities for diverse investment strategies.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 61937 for fiscal year 2024 is set at $960. This figure represents the HUD-recommended maximum rent for subsidized housing units, indicating a moderate rental price ceiling.
The average market rent for the area is $806, according to recent Census ACS data. This suggests that landlords can potentially charge above the market average if their properties meet certain quality standards.
The median home value in ZIP 61937 is $148,835. This relatively low figure makes it attractive for first-time homebuyers and investors looking for affordable entry points.
Renters make up 29.1% of the population, showing a significant portion of residents who prefer or need to lease rather than own their homes. This percentage indicates a steady demand for rental properties.
The median income for residents is $61,295. This income level supports a reasonable rental rate without being overly burdensome on tenants, maintaining a balanced market.

Investors in ZIP 61937 can expect a modest but steady return on investment. With the FMR slightly higher than the market rent, there's room for landlords to increase rents while still remaining competitive. The low median home value suggests potential for property appreciation over time, especially as the local economy grows. Given the substantial renter share and median income levels, demand for rental properties should remain consistent, making this area suitable for long-term investment strategies focused on stability and gradual growth.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.