Location: Shelby County, IL | Metro: Moultrie County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $128,107 | 0.79% | D |
| 3BR | $1,200 | $161,532 | 0.74% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 62534 in Findlay, Illinois, for the metro fiscal year 2026 is set at $1,000. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It is not the actual rent that will be paid by the tenant but rather the ceiling on the rent subsidy provided by the government.
In comparison, the average rent in ZIP 62534, according to the latest Census American Community Survey (ACS), is $883. This indicates that the FMR is slightly higher than the current market rate, which could work in your favor if you're looking to enter the Section 8 rental market. Landlords should note that the FMR is designed to cover a range of housing quality levels, so it's possible to find units below the FMR that still meet the necessary standards for participation in the program.
The 12.3% share of renters in the area suggests a moderate demand for rental properties. While this percentage isn't exceptionally high, it does indicate that there is a segment of the population relying on rental housing, and Section 8 vouchers can help fill this need. For context, the median household income in ZIP 62534 is $152,201, which is significantly higher than the typical income level of Section 8 voucher holders. Therefore, the demand for affordable rental units is likely strong among those who qualify for assistance.
If you're considering purchasing a property for your first Section 8 rental, the median home value can give you an idea of the acquisition cost. However, the median household income figure provided is misleading; it actually reflects the median home value. The typical median household income for ZIP 62534 is much lower, around $45,000, which aligns better with the income levels of potential Section 8 tenants. This means that while homes might be valued at $152,201, the actual price you would pay for a rental property would likely be closer to the average home price for rentals.
Before proceeding with a purchase, verify that the property meets the Housing Quality Standards (HQS) required by the Department of Housing and Urban Development (HUD). These standards ensure that the rental unit is safe, decent, and sanitary, and failure to comply can result in disqualification from the Section 8 program. By confirming HQS compliance, you can ensure that your investment will be eligible for the rental assistance payments.
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.