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Fulton County/Canton/61520

61520

ZIPSAFMR
Fulton County, IL
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$690$690
1 BR$740$730
2 BR$940$790
3 BR$1,290$800
4 BR$1,310$860
5 BR$1,506Not available
6 BR$1,732Not available
7 BR$1,992Not available
8 BR$2,291Not available

Purchase Price Calculator

Maximum purchase price
$55,477

Cost breakdown

+Likely effective rent$790
HUD FMR$940
Market rentUsed$790
Est. payment standard (90%)$850
-Principal and interest-$281
Loan amount$44,382
Down payment$11,095
Rate6.50%
Term30 years
-Operating costs-$309
Property taxes-$55
Insurance-$175
Utilities$0
HOA$0
Management-$79
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$13,056(117.7% ROI)
Projected value
$59,743
Return breakdown
Property appreciation+$4,266
Loan principal paid down+$1,590
Rental cash flow+$7,200
5-year hold
+$22,126(199.4% ROI)
Projected value
$62,767
Return breakdown
Property appreciation+$7,290
Loan principal paid down+$2,836
Rental cash flow+$12,000
10-year hold
+$46,295(417.2% ROI)
Projected value
$71,015
Return breakdown
Property appreciation+$15,538
Loan principal paid down+$6,757
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.00
1 BR
1.01
2 BR
1.19
3 BR
1.61
4 BR
1.52
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 61520 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61520 (Canton, IL) is $940 a month. That is up 2.2% from $920 in FY 2026. Canton is in the Fulton 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 $930. Among 24 ZIP codes in Fulton County, 61520 is tied for the 13th-highest two-bedroom rent (county range $930–$1,110). The median county two-bedroom FMR in Illinois is $958, so ZIP 61520 is 2% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 61520
BedroomsFY 2027Change90–110% range
Studio$690−2.8%$621–$759
1BR$740+2.8%$666–$814
2BR$940+2.2%$846–$1,034
3BR$1,290+0.8%$1,161–$1,419
4BR$1,310+1.6%$1,179–$1,441

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 61520
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$690$740$940$1,290$1,310
FY 2026$710$720$920$1,280$1,290
FY 2025$670$690$880$1,210$1,280
FY 2024$670$670$880$1,150$1,360
FY 2023$640$650$850$1,050$1,400

Two-bedroom rent in nearby Fulton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 61520
61482$930−1.1%
61484$930−1.1%
61501$960+2.1%
61519$930−1.1%
61520Current$940—
61524$1,010+7.4%
61531$1,000+6.4%
61533$1,010+7.4%
61542$930−1.1%
61543$930−1.1%
61544$1,030+9.6%
61553$930−1.1%

Questions about ZIP 61520 rents

How much will Section 8 pay for a two-bedroom in ZIP 61520?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $930, which applies unless the housing authority uses Small Area FMRs, that basic range is $837 to $1,023 a month; under the ZIP-level Small Area FMR of $940 it would be $846 to $1,034. 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 61520 in?

ZIP 61520 is in the Fulton County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $930.

How much did fair market rent change in ZIP 61520 for FY 2027?

The two-bedroom FMR rose 2.2%, from $920 in FY 2026 to $940 in FY 2027. Since FY 2023 it has risen 10.6%.

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