Location: Ogle County, IL | Metro: Ogle County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The ZIP code 60113 presents a viable opportunity for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 306, 34.2% of residents are renters, indicating a significant portion of the community relies on rental housing. This statistic suggests that there is a moderate demand for rental properties among potential Section 8 voucher holders.
The median household income in ZIP 60113 is $67,396. A market rent of $950 represents approximately 17.3% of the median income, which is a reasonable percentage for most households. However, when compared to the Fair Market Rent (FMR) of $1,220 for FY 2026 in the metro area, it becomes evident that the $950 rent is below the average expected rent in the region, making it more accessible to lower-income families who might be using Section 8 vouchers.
A landlord in ZIP 60113 can expect a tenant profile that includes a mix of individuals and families who benefit from government assistance. These tenants will likely have a strong interest in stable, affordable housing options. Given the income levels and the current market rent, these tenants would spend less than 20% of their income on rent, which is considered affordable under HUD guidelines.
In conclusion, while not a renter-heavy ZIP with an overwhelming demand for Section 8 vouchers, 60113 still offers a solid tenant pool for those interested in affordable housing investments. The relatively low market rent compared to the FMR makes it an attractive option for voucher holders seeking to maximize their housing benefits.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.