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Peoria County/Edwards/61528

61528

ZIPSAFMR
Peoria County, IL
Zillow

ZIP Investment Score

38Below average

095130300
BRFMR
Eff. Rent
0 BR$1,020$930
1 BR$1,070$900
2 BR$1,350$1,360
3 BR$1,740$1,410
4 BR$1,910$1,420
5 BR$2,197Not available
6 BR$2,526Not available
7 BR$2,905Not available
8 BR$3,341Not available

Purchase Price Calculator

Maximum purchase price
$140,179

Cost breakdown

+Likely effective rent$1,360
HUD FMR$1,350
Market rent$1,370
Est. payment standard (101%)Used$1,360
-Principal and interest-$709
Loan amount$112,143
Down payment$28,036
Rate6.50%
Term30 years
-Operating costs-$451
Property taxes-$140
Insurance-$175
Utilities$0
HOA$0
Management-$136
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,996(78.5% ROI)
Projected value
$150,957
Return breakdown
Property appreciation+$10,778
Loan principal paid down+$4,018
Rental cash flow+$7,200
5-year hold
+$37,586(134.1% ROI)
Projected value
$158,600
Return breakdown
Property appreciation+$18,421
Loan principal paid down+$7,165
Rental cash flow+$12,000
10-year hold
+$80,334(286.5% ROI)
Projected value
$179,441
Return breakdown
Property appreciation+$39,262
Loan principal paid down+$17,073
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.10
1 BR
1.19
2 BR
0.99
3 BR
1.23
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 61528 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61528 (Edwards, IL) is $1,350 a month. That is up 14.4% from $1,180 in FY 2026. Edwards is in the Peoria, 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 $1,212. Among 41 ZIP codes in Peoria County, 61528 is tied for the 3rd-highest two-bedroom rent (county range $940–$1,620). The median county two-bedroom FMR in Illinois is $958, so ZIP 61528 is 41% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 61528
BedroomsFY 2027Change90–110% range
Studio$1,020+21.4%$918–$1,122
1BR$1,070+15.1%$963–$1,177
2BR$1,350+14.4%$1,215–$1,485
3BR$1,740+13.0%$1,566–$1,914
4BR$1,910+18.6%$1,719–$2,101

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 61528
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,020$1,070$1,350$1,740$1,910
FY 2026$840$930$1,180$1,540$1,610
FY 2025$930$1,030$1,310$1,710$1,750
FY 2024$1,030$1,140$1,450$1,890$1,940
FY 2023$960$1,060$1,340$1,740$1,810

Two-bedroom rent in nearby Peoria County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 61528
61517$1,160−14.1%
61520$940−30.4%
61523$1,210−10.4%
61525$1,620+20.0%
61526$1,290−4.4%
61528Current$1,350—
61529$970−28.1%
61531$1,000−25.9%
61533$1,010−25.2%
61536$1,240−8.1%
61539$980−27.4%
61547$1,250−7.4%

Questions about ZIP 61528 rents

How much will Section 8 pay for a two-bedroom in ZIP 61528?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,212, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,091 to $1,333 a month; under the ZIP-level Small Area FMR of $1,350 it would be $1,215 to $1,485. 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 61528 in?

ZIP 61528 is in the Peoria, IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,212.

How much did fair market rent change in ZIP 61528 for FY 2027?

The two-bedroom FMR rose 14.4%, from $1,180 in FY 2026 to $1,350 in FY 2027. Since FY 2023 it has risen 0.7%.

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