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Rock Island County/Illinois City/61259

61259

ZIPSAFMR
Rock Island County, IL
Zillow

ZIP Investment Score

69Below average

095130300
BRFMR
Eff. Rent
0 BR$760$760
1 BR$840$840
2 BR$1,040$1,040
3 BR$1,350$1,350
4 BR$1,640$1,640
5 BR$1,886Not available
6 BR$2,169Not available
7 BR$2,494Not available
8 BR$2,868Not available

Purchase Price Calculator

Maximum purchase price
$92,627

Cost breakdown

+Likely effective rent$1,040
HUD FMRUsed$1,040
Market rentN/A
Est. payment standardN/A
-Principal and interest-$468
Loan amount$74,102
Down payment$18,525
Rate6.50%
Term30 years
-Operating costs-$372
Property taxes-$93
Insurance-$175
Utilities$0
HOA$0
Management-$104
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,977(91.6% ROI)
Projected value
$99,749
Return breakdown
Property appreciation+$7,122
Loan principal paid down+$2,655
Rental cash flow+$7,200
5-year hold
+$28,906(156.0% ROI)
Projected value
$104,799
Return breakdown
Property appreciation+$12,172
Loan principal paid down+$4,734
Rental cash flow+$12,000
10-year hold
+$61,225(330.5% ROI)
Projected value
$118,570
Return breakdown
Property appreciation+$25,943
Loan principal paid down+$11,281
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 61259 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61259 (Illinois City, IL) is $1,040 a month. That is down 9.6% from $1,150 in FY 2026. Illinois City is in the Davenport-Moline-Rock Island, IA-IL MSA. 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 metro-wide two-bedroom FMR of $1,056. Among 24 ZIP codes in Rock Island County, 61259 is tied for the 13th-highest two-bedroom rent (county range $1,030–$1,580). The median county two-bedroom FMR in Illinois is $958, so ZIP 61259 is 9% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 61259
BedroomsFY 2027Change90–110% range
Studio$760−8.4%$684–$836
1BR$840−9.7%$756–$924
2BR$1,040−9.6%$936–$1,144
3BR$1,350−10.0%$1,215–$1,485
4BR$1,640−8.4%$1,476–$1,804

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 61259
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$760$840$1,040$1,350$1,640
FY 2026$830$930$1,150$1,500$1,790
FY 2025$870$1,020$1,260$1,640$1,940
FY 2024$810$970$1,200$1,570$1,810
FY 2023$760$920$1,140$1,500$1,700

Two-bedroom rent in nearby Rock Island County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 61259
61242$1,060+1.9%
61244$1,030−1.0%
61256$1,120+7.7%
61257$1,580+51.9%
61259Current$1,040—
61260$1,030−1.0%
61264$1,150+10.6%
61265$1,050+1.0%
61266$1,030−1.0%
61272$1,030−1.0%
61273$1,030−1.0%
61275$1,050+1.0%

Questions about ZIP 61259 rents

How much will Section 8 pay for a two-bedroom in ZIP 61259?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,056, which applies unless the housing authority uses Small Area FMRs, that basic range is $950 to $1,162 a month; under the ZIP-level Small Area FMR of $1,040 it would be $936 to $1,144. 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 61259 in?

ZIP 61259 is in the Davenport-Moline-Rock Island, IA-IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,056.

How much did fair market rent change in ZIP 61259 for FY 2027?

The two-bedroom FMR fell 9.6%, from $1,150 in FY 2026 to $1,040 in FY 2027. Since FY 2023 it has fallen 8.8%.

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 rentIllinois City, IL fair market rentIL statewide rentsWhat is SAFMR?Data sources