Skip to main content
Loading page
McLean County/Arrowsmith/61722

61722

ZIPSAFMR
McLean County, IL
Zillow

ZIP Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$1,040$1,040
1 BR$1,100$1,100
2 BR$1,420$1,420
3 BR$1,860$1,860
4 BR$1,870$1,870
5 BR$2,151Not available
6 BR$2,473Not available
7 BR$2,844Not available
8 BR$3,271Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMRUsed$1,420
Market rentN/A
Est. payment standardN/A
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

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
--

ZIP 61722 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61722 (Arrowsmith, IL) is $1,420 a month. That is down 2.7% from $1,460 in FY 2026. Arrowsmith is in the Bloomington, 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 $1,287. Among 38 ZIP codes in McLean County, 61722 is tied for the 7th-highest two-bedroom rent (county range $1,180–$1,660). The median county two-bedroom FMR in Illinois is $958, so ZIP 61722 is 48% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 61722
BedroomsFY 2027Change90–110% range
Studio$1,0400.0%$936–$1,144
1BR$1,100−1.8%$990–$1,210
2BR$1,420−2.7%$1,278–$1,562
3BR$1,860−3.6%$1,674–$2,046
4BR$1,870−3.1%$1,683–$2,057

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 61722
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,100$1,420$1,860$1,870
FY 2026$1,040$1,120$1,460$1,930$1,930
FY 2025$860$940$1,210$1,600$1,600
FY 2024$890$990$1,260$1,750$1,760
FY 2023$800$910$1,130$1,600$1,810

Two-bedroom rent in nearby McLean County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 61722
61720$1,330−6.3%
61722Current$1,420—
61723$1,180−16.9%
61724$1,180−16.9%
61725$1,660+16.9%
61726$1,180−16.9%
61728$1,180−16.9%
61729$1,260−11.3%
61730$1,200−15.5%
61731$1,180−16.9%
61732$1,510+6.3%
61736$1,250−12.0%

Questions about ZIP 61722 rents

How much will Section 8 pay for a two-bedroom in ZIP 61722?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,287, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,158 to $1,416 a month; under the ZIP-level Small Area FMR of $1,420 it would be $1,278 to $1,562. 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 61722 in?

ZIP 61722 is in the Bloomington, IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,287.

How much did fair market rent change in ZIP 61722 for FY 2027?

The two-bedroom FMR fell 2.7%, from $1,460 in FY 2026 to $1,420 in FY 2027. Since FY 2023 it has risen 25.7%.

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