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Champaign County/Rantoul/61866

61866

ZIPSAFMR
Champaign County, IL
Zillow

ZIP Investment Score

45Below average

095130300
BRFMR
Eff. Rent
0 BR$860$650
1 BR$870$700
2 BR$1,030$770
3 BR$1,300$840
4 BR$1,350$750
5 BR$1,552Not available
6 BR$1,785Not available
7 BR$2,053Not available
8 BR$2,361Not available

Purchase Price Calculator

Maximum purchase price
$52,505

Cost breakdown

+Likely effective rent$770
HUD FMR$1,030
Market rentUsed$770
Est. payment standard (90%)$930
-Principal and interest-$265
Loan amount$42,004
Down payment$10,501
Rate6.50%
Term30 years
-Operating costs-$305
Property taxes-$53
Insurance-$175
Utilities$0
HOA$0
Management-$77
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$12,742(121.3% ROI)
Projected value
$56,542
Return breakdown
Property appreciation+$4,037
Loan principal paid down+$1,505
Rental cash flow+$7,200
5-year hold
+$21,583(205.5% ROI)
Projected value
$59,405
Return breakdown
Property appreciation+$6,900
Loan principal paid down+$2,684
Rental cash flow+$12,000
10-year hold
+$45,101(429.5% ROI)
Projected value
$67,211
Return breakdown
Property appreciation+$14,706
Loan principal paid down+$6,395
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.32
1 BR
1.24
2 BR
1.34
3 BR
1.55
4 BR
1.80
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 61866 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61866 (Rantoul, IL) is $1,030 a month. That is up 2.0% from $1,010 in FY 2026. Rantoul is in the Champaign-Urbana, IL HUD Metro 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 metro-wide two-bedroom FMR of $1,173. Among 43 ZIP codes in Champaign County, 61866 is tied for the 32nd-highest two-bedroom rent (county range $1,010–$1,530). The median county two-bedroom FMR in Illinois is $958, so ZIP 61866 is 8% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 61866
BedroomsFY 2027Change90–110% range
Studio$860+1.2%$774–$946
1BR$870+2.4%$783–$957
2BR$1,030+2.0%$927–$1,133
3BR$1,300+0.8%$1,170–$1,430
4BR$1,350+0.7%$1,215–$1,485

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 61866
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$860$870$1,030$1,300$1,350
FY 2026$850$850$1,010$1,290$1,340
FY 2025$820$830$980$1,270$1,300
FY 2024$790$790$940$1,230$1,250
FY 2023$770$780$920$1,190$1,240

Two-bedroom rent in nearby Champaign County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 61866
61856$1,270+23.3%
61859$1,530+48.5%
61862$1,010−1.9%
61863$1,010−1.9%
61864$1,280+24.3%
61866Current$1,030—
61871$1,220+18.4%
61872$1,040+1.0%
61873$1,020−1.0%
61874$1,070+3.9%
61875$1,090+5.8%
61877$1,300+26.2%

Questions about ZIP 61866 rents

How much will Section 8 pay for a two-bedroom in ZIP 61866?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,173, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,056 to $1,290 a month; under the ZIP-level Small Area FMR of $1,030 it would be $927 to $1,133. 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 61866 in?

ZIP 61866 is in the Champaign-Urbana, IL HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,173.

How much did fair market rent change in ZIP 61866 for FY 2027?

The two-bedroom FMR rose 2.0%, from $1,010 in FY 2026 to $1,030 in FY 2027. Since FY 2023 it has risen 12.0%.

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