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Vermilion County/Hoopeston/60942

60942

ZIPSAFMR
Vermilion County, IL
Zillow

ZIP Investment Score

127Above average

095130300
BRFMR
Eff. Rent
0 BR$760$700
1 BR$770$600
2 BR$980$840
3 BR$1,310$960
4 BR$1,380$1,020
5 BR$1,587Not available
6 BR$1,825Not available
7 BR$2,099Not available
8 BR$2,414Not available

Purchase Price Calculator

Maximum purchase price
$62,907

Cost breakdown

+Likely effective rent$840
HUD FMR$980
Market rentUsed$840
Est. payment standard (91%)$890
-Principal and interest-$318
Loan amount$50,326
Down payment$12,581
Rate6.50%
Term30 years
-Operating costs-$322
Property taxes-$63
Insurance-$175
Utilities$0
HOA$0
Management-$84
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$13,840(110.0% ROI)
Projected value
$67,744
Return breakdown
Property appreciation+$4,837
Loan principal paid down+$1,803
Rental cash flow+$7,200
5-year hold
+$23,482(186.6% ROI)
Projected value
$71,174
Return breakdown
Property appreciation+$8,267
Loan principal paid down+$3,215
Rental cash flow+$12,000
10-year hold
+$49,281(391.7% ROI)
Projected value
$80,526
Return breakdown
Property appreciation+$17,619
Loan principal paid down+$7,662
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.09
1 BR
1.28
2 BR
1.17
3 BR
1.36
4 BR
1.35
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60942 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60942 (Hoopeston, IL) is $980 a month. That is down 3.0% from $1,010 in FY 2026. Hoopeston is in the Vermilion County, IL non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $956. Among 27 ZIP codes in Vermilion County, 60942 has the 17th-highest two-bedroom rent (county range $930–$1,530). The median county two-bedroom FMR in Illinois is $958, so ZIP 60942 is 2% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60942
BedroomsFY 2027Change90–110% range
Studio$760+8.6%$684–$836
1BR$7700.0%$693–$847
2BR$980−3.0%$882–$1,078
3BR$1,310+7.4%$1,179–$1,441
4BR$1,380+1.5%$1,242–$1,518

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60942
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$760$770$980$1,310$1,380
FY 2026$700$770$1,010$1,220$1,360
FY 2025$700$780$1,020$1,240$1,380
FY 2024$680$720$940$1,170$1,250
FY 2023$580$600$790$1,000$1,060

Two-bedroom rent in nearby Vermilion County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60942
60932$950−3.1%
60942Current$980—
60960$1,010+3.1%
60963$1,050+7.1%
61810$1,010+3.1%
61811$1,000+2.0%
61812$1,090+11.2%
61814$1,020+4.1%
61817$1,020+4.1%
61831$990+1.0%
61832$1,000+2.0%
61833$950−3.1%

Questions about ZIP 60942 rents

How much will Section 8 pay for a two-bedroom in ZIP 60942?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $956, which applies unless the housing authority uses Small Area FMRs, that basic range is $860 to $1,052 a month; under the ZIP-level Small Area FMR of $980 it would be $882 to $1,078. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 60942 in?

ZIP 60942 is in the Vermilion County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $956.

How much did fair market rent change in ZIP 60942 for FY 2027?

The two-bedroom FMR fell 3.0%, from $1,010 in FY 2026 to $980 in FY 2027. Since FY 2023 it has risen 24.1%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentHoopeston, IL fair market rentIL statewide rentsWhat is SAFMR?Data sources