Location: Edgar County, IL | Metro: Edgar County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,170 |
| 5 Bedrooms | $2,517 |
| 6 Bedrooms | $2,819 |
| 7 Bedrooms | $3,045 |
| 8 Bedrooms | $3,197 |
U.S. Census Bureau data (2024)
14.9% of residents in ZIP 61955 are renters, indicating a modest demand for rental properties in the area. However, the $1,370 Fair Market Rent (FMR) for the metro area in fiscal year 2026 suggests that there is potential for landlords to charge competitive rents without significantly exceeding the average tenant's budget. This FMR is set by the U.S. Department of Housing and Urban Development (HUD) to determine payment standards for housing assistance programs, including Section 8.
$1,175 is the reported market rent based on Census ACS data, which is lower than the FMR but still represents a viable income stream for landlords. The difference between the market rent and the FMR indicates that there is room for landlords to increase their rents slightly above the current market rate if they offer high-quality, well-maintained properties.
N/A is listed for the median home value, suggesting that homeownership data might be sparse or unreliable for this specific ZIP code. This absence of data could imply a strong rental market, as fewer residents own homes and more rely on renting.
The median income of $49,167 provides insight into the financial capacity of the local population. While this figure is not exceptionally high, it does support the possibility of tenants qualifying for Section 8 assistance, given that the maximum income limit for a family of four in many areas is around $35,000-$40,000, depending on location and other factors.
N/A-day Days on Market (DOM) and N/A% price-cut share indicate that there is limited data available regarding the speed at which properties sell and the frequency of price reductions in the area. This lack of data could suggest a stable real estate market where properties do not sit unsold for long periods nor require frequent price adjustments.
In conclusion, ZIP 61955 offers a balanced opportunity for landlords and small-portfolio investors interested in Section 8 properties. With a 14.9% renter share and a median income of $49,167, the area supports a reasonable number of potential tenants who can benefit from the $1,370 FMR. The market rent of $1,175 is below the FMR, providing a margin for landlords to adjust rents upward while remaining within HUD guidelines. Given these factors, ZIP 61955 is moderately suitable for Section 8 investments, offering stability and a fair return.
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.