Vermilion County/Ridge Farm/61870

61870

ZIPSAFMR

Vermilion County, IL

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ZIP Investment Score

102Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$720	$760	0.9%
1 BR	$730	$760	-0.5%
2 BR	$930	$780	-1.4%
3 BR	$1,240	$810	0.8%
4 BR	$1,300	$870	0.3%
5 BR	$1,495	Not available	0.3%
6 BR	$1,719	Not available	0.3%
7 BR	$1,977	Not available	0.3%
8 BR	$2,274	Not available	0.3%

Purchase Price Calculator

Maximum purchase price

$53,991

Cost breakdown

+Likely effective rent$780

HUD FMR$930

Market rentUsed$780

Est. payment standard (90%)$840

-Principal and interest-$273

Loan amount$43,193

Down payment$10,798

Rate6.50%

Term30 years

-Operating costs-$307

Property taxes-$54

Insurance-$175

Utilities$0

HOA$0

Management-$78

=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

+$12,899(119.5% ROI)

Projected value

$58,143

Return breakdown

Property appreciation+$4,151

Loan principal paid down+$1,547

Rental cash flow+$7,200

5-year hold

+$21,854(202.4% ROI)

Projected value

$61,086

Return breakdown

Property appreciation+$7,095

Loan principal paid down+$2,760

Rental cash flow+$12,000

10-year hold

+$45,698(423.2% ROI)

Projected value

$69,113

Return breakdown

Property appreciation+$15,122

Loan principal paid down+$6,576

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.92ratio

FMR$720

Market$780

vs market-$60

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

0.92

1 BR

0.94ratio

FMR$730

Market$780

vs market-$50

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

0.94

2 BR

1.19ratio

FMR$930

Market$780

vs market+$150

FMR is above market; underwrite to market rent.

1.19

3 BR

1.53ratio

FMR$1,240

Market$810

vs market+$430

FMR is above market; underwrite to market rent.

1.53

4 BR

1.49ratio

FMR$1,300

Market$870

vs market+$430

FMR is above market; underwrite to market rent.

1.49

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 61870 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61870 (Ridge Farm, IL) is $930 a month. That is up 1.1% from $920 in FY 2026. Ridge Farm 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, 61870 is tied for the 22nd-highest two-bedroom rent (county range $930–$1,530). The median county two-bedroom FMR in Illinois is $958, so ZIP 61870 is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 61870
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$630	$720	+14.3%	$648–$792
1BR	$710	$730	+2.8%	$657–$803
2BR	$920	$930	+1.1%	$837–$1,023
3BR	$1,130	$1,240	+9.7%	$1,116–$1,364
4BR	$1,250	$1,300	+4.0%	$1,170–$1,430

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 61870
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$720	$730	$930	$1,240	$1,300
FY 2026	$630	$710	$920	$1,130	$1,250
FY 2025	$700	$780	$1,020	$1,250	$1,380
FY 2024	$700	$740	$970	$1,210	$1,290
FY 2023	$650	$680	$890	$1,130	$1,200

Two-bedroom rent in nearby Vermilion County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 61870
61846	$930	0.0%
61848	$1,120	+20.4%
61849	$1,070	+15.1%
61850	$940	+1.1%
61857	$1,170	+25.8%
61858	$950	+2.2%
61859	$1,530	+64.5%
61862	$1,010	+8.6%
61865	$930	0.0%
61870Current	$930	—
61876	$930	0.0%
61883	$930	0.0%

Questions about ZIP 61870 rents

How much will Section 8 pay for a two-bedroom in ZIP 61870?

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 $930 it would be $837 to $1,023. 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 61870 in?

ZIP 61870 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 61870 for FY 2027?

The two-bedroom FMR rose 1.1%, from $920 in FY 2026 to $930 in FY 2027. Since FY 2023 it has risen 4.5%.

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