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Vermilion County/Danville/61832

61832

ZIPSAFMR
Vermilion County, IL
Zillow

ZIP Investment Score

127Above average

095130300
BRFMR
Eff. Rent
0 BR$780$560
1 BR$780$640
2 BR$1,000$740
3 BR$1,340$860
4 BR$1,400$920
5 BR$1,610Not available
6 BR$1,851Not available
7 BR$2,129Not available
8 BR$2,449Not available

Purchase Price Calculator

Maximum purchase price
$48,047

Cost breakdown

+Likely effective rent$740
HUD FMR$1,000
Market rentUsed$740
Est. payment standard (90%)$900
-Principal and interest-$243
Loan amount$38,438
Down payment$9,609
Rate6.50%
Term30 years
-Operating costs-$297
Property taxes-$48
Insurance-$175
Utilities$0
HOA$0
Management-$74
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$12,272(127.7% ROI)
Projected value
$51,742
Return breakdown
Property appreciation+$3,694
Loan principal paid down+$1,377
Rental cash flow+$7,200
5-year hold
+$20,770(216.1% ROI)
Projected value
$54,361
Return breakdown
Property appreciation+$6,314
Loan principal paid down+$2,456
Rental cash flow+$12,000
10-year hold
+$43,309(450.7% ROI)
Projected value
$61,504
Return breakdown
Property appreciation+$13,457
Loan principal paid down+$5,852
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.39
1 BR
1.22
2 BR
1.35
3 BR
1.56
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 61832 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61832 (Danville, IL) is $1,000 a month. That is down 1.0% from $1,010 in FY 2026. Danville is in the Vermilion 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 $956. Among 27 ZIP codes in Vermilion County, 61832 is tied for the 14th-highest two-bedroom rent (county range $930–$1,530). The median county two-bedroom FMR in Illinois is $958, so ZIP 61832 is 4% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 61832
BedroomsFY 2027Change90–110% range
Studio$780+11.4%$702–$858
1BR$780+1.3%$702–$858
2BR$1,000−1.0%$900–$1,100
3BR$1,340+9.8%$1,206–$1,474
4BR$1,400+3.7%$1,260–$1,540

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 61832
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$780$780$1,000$1,340$1,400
FY 2026$700$770$1,010$1,220$1,350
FY 2025$690$770$1,010$1,230$1,360
FY 2024$690$720$950$1,180$1,270
FY 2023$660$680$900$1,140$1,210

Two-bedroom rent in nearby Vermilion County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 61832
61814$1,020+2.0%
61817$1,020+2.0%
61831$990−1.0%
61832Current$1,000—
61833$950−5.0%
61834$1,050+5.0%
61841$930−7.0%
61844$1,170+17.0%
61846$930−7.0%
61848$1,120+12.0%
61849$1,070+7.0%
61850$940−6.0%

Questions about ZIP 61832 rents

How much will Section 8 pay for a two-bedroom in ZIP 61832?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $956, which applies unless the housing authority uses Small Area FMRs, that basic range is $860 to $1,052 a month; under the ZIP-level Small Area FMR of $1,000 it would be $900 to $1,100. 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 61832 in?

ZIP 61832 is in the Vermilion County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $956.

How much did fair market rent change in ZIP 61832 for FY 2027?

The two-bedroom FMR fell 1.0%, from $1,010 in FY 2026 to $1,000 in FY 2027. Since FY 2023 it has risen 11.1%.

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