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Macon County/Decatur/62521

62521

ZIPSAFMR
Macon County, IL
Zillow

ZIP Investment Score

75Below average

095130300
BRFMR
Eff. Rent
0 BR$920$750
1 BR$930$760
2 BR$1,180$930
3 BR$1,520$1,070
4 BR$1,860$1,240
5 BR$2,139Not available
6 BR$2,460Not available
7 BR$2,829Not available
8 BR$3,253Not available

Purchase Price Calculator

Maximum purchase price
$76,281

Cost breakdown

+Likely effective rent$930
HUD FMR$1,180
Market rentUsed$930
Est. payment standard (90%)$1,060
-Principal and interest-$386
Loan amount$61,025
Down payment$15,256
Rate6.50%
Term30 years
-Operating costs-$344
Property taxes-$76
Insurance-$175
Utilities$0
HOA$0
Management-$93
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,252(100.0% ROI)
Projected value
$82,146
Return breakdown
Property appreciation+$5,865
Loan principal paid down+$2,186
Rental cash flow+$7,200
5-year hold
+$25,923(169.9% ROI)
Projected value
$86,305
Return breakdown
Property appreciation+$10,024
Loan principal paid down+$3,899
Rental cash flow+$12,000
10-year hold
+$54,656(358.3% ROI)
Projected value
$97,646
Return breakdown
Property appreciation+$21,365
Loan principal paid down+$9,290
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.23
1 BR
1.22
2 BR
1.27
3 BR
1.42
4 BR
1.50
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 62521 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 62521 (Decatur, IL) is $1,180 a month. That is up 3.5% from $1,140 in FY 2026. Decatur is in the Decatur, 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 $1,091. Among 29 ZIP codes in Macon County, 62521 is tied for the 6th-highest two-bedroom rent (county range $960–$1,450). The median county two-bedroom FMR in Illinois is $958, so ZIP 62521 is 23% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 62521
BedroomsFY 2027Change90–110% range
Studio$920+2.2%$828–$1,012
1BR$930+2.2%$837–$1,023
2BR$1,180+3.5%$1,062–$1,298
3BR$1,520+2.7%$1,368–$1,672
4BR$1,860+1.6%$1,674–$2,046

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 62521
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$920$930$1,180$1,520$1,860
FY 2026$900$910$1,140$1,480$1,830
FY 2025$820$860$1,070$1,410$1,670
FY 2024$730$820$1,000$1,360$1,480
FY 2023$640$750$920$1,280$1,360

Two-bedroom rent in nearby Macon County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 62521
62513$1,450+22.9%
62514$1,130−4.2%
62521Current$1,180—
62522$1,040−11.9%
62523$960−18.6%
62524$1,090−7.6%
62525$1,090−7.6%
62526$1,060−10.2%
62532$1,130−4.2%
62535$1,060−10.2%
62537$1,050−11.0%
62539$1,090−7.6%

Questions about ZIP 62521 rents

How much will Section 8 pay for a two-bedroom in ZIP 62521?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,091, which applies unless the housing authority uses Small Area FMRs, that basic range is $982 to $1,200 a month; under the ZIP-level Small Area FMR of $1,180 it would be $1,062 to $1,298. 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 62521 in?

ZIP 62521 is in the Decatur, IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,091.

How much did fair market rent change in ZIP 62521 for FY 2027?

The two-bedroom FMR rose 3.5%, from $1,140 in FY 2026 to $1,180 in FY 2027. Since FY 2023 it has risen 28.3%.

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