Location: Randolph County, IL | Metro: Randolph County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
0.0% of the population in ZIP code 62261 rents their homes, indicating a predominantly owner-occupied market. This statistic underscores the limited demand for rental properties in the area, which could affect the attractiveness of investment opportunities geared towards renters. Despite the low renter share, landlords should focus on the Federal Market Rent (FMR) set at $930 for the metro area in fiscal year 2026, which represents the maximum amount a landlord can charge for a Section 8 voucher. The N/A value for market rent suggests that there is insufficient data to determine the average rent charged in the area, but given the low renter share, it's reasonable to assume that market rents might be below the FMR. Similarly, the lack of information on median home values and median incomes indicates a scarcity of comprehensive housing and economic data, which can make it challenging to assess broader investment potential. However, the absence of these figures does not negate the importance of the FMR figure for those interested in Section 8 participation. With a N/A-day Days on Market (DOM), we see no trend in how quickly properties are being rented or sold, which could imply stability or a lack of significant activity in the local real estate market. Lastly, the N/A% price-cut share reflects an unclear picture of how often landlords or sellers adjust their prices to attract tenants or buyers, possibly due to the small volume of transactions. Given the specific context of ZIP 62261 and the data available, landlords and investors considering Section 8 should note the $930 FMR cap as a key figure for setting rental rates. The low renter share also signals that the pool of potential tenants using vouchers may be smaller than in other areas. In conclusion, while the overall real estate landscape in 62261 presents challenges in terms of comprehensive data availability, the Section 8 program offers a stable income source at the specified FMR rate.
Section 8 Verdict: Suitable for landlords seeking stable, long-term rental income, though the limited demand for rentals may restrict broader investment opportunities.
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.