Location: Randolph County, IL | Metro: Randolph County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 62217 reveals a unique balance between yield potential and market stability. With a Fair Market Rent (FMR) of $950 for the fiscal year 2026, compared to the local market rent of $871, there is a modest premium for properties participating in the Section 8 program. This suggests that landlords can achieve slightly higher rental yields through participation in Section 8.
The median home value in ZIP 62217 stands at $120,219. When juxtaposed against the median household income of $84,615, it becomes evident that homeownership might be less accessible for some residents. However, the presence of a significant number of renters—comprising 13.4% of the population—indicates a steady demand for rental properties.
The lack of available data on the average days on market (DOM) for rental listings makes it challenging to assess the speed at which units are typically filled. Nonetheless, the relatively low percentage of renters suggests a smaller pool of potential tenants, which could impact the stability of cash flow. Despite this, the consistent demand for rental housing and the opportunity to leverage the Section 8 program for slightly higher rents make ZIP 62217 an area that leans towards a steady-cashflow zone.
To summarize, the rental yield is moderately favorable due to the FMR being higher than the market rent. The stability, however, is somewhat compromised by the limited number of renters and the absence of data on how quickly rentals are filled. Therefore, while there is potential for slightly higher yields, the overall market environment supports a strategy focused on maintaining a reliable stream of rental income rather than rapid property flips.
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.