61654

ZIPSAFMR

Peoria County, IL

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$940	$900	10.3%
1 BR	$990	$990	8.3%
2 BR	$1,250	$1,140	8.1%
3 BR	$1,610	$1,470	7.7%
4 BR	$1,760	$1,700	9.8%
5 BR	$2,024	Not available	9.8%
6 BR	$2,328	Not available	9.8%
7 BR	$2,677	Not available	9.8%
8 BR	$3,078	Not available	9.8%

Purchase Price Calculator

Maximum purchase price

$107,487

Cost breakdown

+Likely effective rent$1,140

HUD FMR$1,250

Market rentUsed$1,140

Est. payment standard (94%)$1,180

-Principal and interest-$544

Loan amount$85,990

Down payment$21,497

Rate6.50%

Term30 years

-Operating costs-$396

Property taxes-$107

Insurance-$175

Utilities$0

HOA$0

Management-$114

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$18,546(86.3% ROI)

Projected value

$115,752

Return breakdown

Property appreciation+$8,265

Loan principal paid down+$3,081

Rental cash flow+$7,200

5-year hold

+$31,619(147.1% ROI)

Projected value

$121,612

Return breakdown

Property appreciation+$14,125

Loan principal paid down+$5,494

Rental cash flow+$12,000

10-year hold

+$67,196(312.6% ROI)

Projected value

$137,592

Return breakdown

Property appreciation+$30,105

Loan principal paid down+$13,091

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.04ratio

FMR$940

Market$900

vs market+$40

FMR is near market; voucher and private rents are aligned.

1.04

1 BR

1.00ratio

FMR$990

Market$990

vs market+$0

FMR is near market; voucher and private rents are aligned.

1.00

2 BR

1.10ratio

FMR$1,250

Market$1,140

vs market+$110

FMR is near market; voucher and private rents are aligned.

1.10

3 BR

1.10ratio

FMR$1,610

Market$1,470

vs market+$140

FMR is near market; voucher and private rents are aligned.

1.10

4 BR

1.04ratio

FMR$1,760

Market$1,700

vs market+$60

FMR is near market; voucher and private rents are aligned.

1.04

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 61654 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61654 (Peoria, IL) is $1,250 a month. That is up 17.9% from $1,060 in FY 2026. Peoria 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, 61654 is tied for the 10th-highest two-bedroom rent (county range $940–$1,620). The median county two-bedroom FMR in Illinois is $958, so ZIP 61654 is 31% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 61654
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$770	$940	+22.1%	$846–$1,034
1BR	$830	$990	+19.3%	$891–$1,089
2BR	$1,060	$1,250	+17.9%	$1,125–$1,375
3BR	$1,370	$1,610	+17.5%	$1,449–$1,771
4BR	$1,480	$1,760	+18.9%	$1,584–$1,936

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 61654
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$940	$990	$1,250	$1,610	$1,760
FY 2026	$770	$830	$1,060	$1,370	$1,480
FY 2025	$740	$810	$1,030	$1,330	$1,400
FY 2024	$700	$780	$990	$1,290	$1,330
FY 2023	$660	$730	$930	$1,210	$1,260

Two-bedroom rent in nearby Peoria County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 61654
61614	$1,200	−4.0%
61615	$1,390	+11.2%
61616	$1,160	−7.2%
61625	$1,190	−4.8%
61630	$1,250	0.0%
61636	$1,250	0.0%
61651	$1,250	0.0%
61652	$1,250	0.0%
61653	$1,250	0.0%
61654Current	$1,250	—
61655	$1,250	0.0%
61656	$1,250	0.0%

Questions about ZIP 61654 rents

How much will Section 8 pay for a two-bedroom in ZIP 61654?

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 $1,250 it would be $1,125 to $1,375. 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 61654 in?

ZIP 61654 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 61654 for FY 2027?

The two-bedroom FMR rose 17.9%, from $1,060 in FY 2026 to $1,250 in FY 2027. Since FY 2023 it has risen 34.4%.

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 rent Peoria, IL fair market rent IL statewide rents What is SAFMR?Data sources