Section 8 Fair Market Rent (FMR) for ZIP 61006 - 2027

Location: Ogle County, IL | Metro: Lee County, IL

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$700
1 Bedroom	$790
2 Bedrooms	$1,010
3 Bedrooms	$1,290
4 Bedrooms	$1,450
5 Bedrooms	$1,682
6 Bedrooms	$1,884
7 Bedrooms	$2,035
8 Bedrooms	$2,137

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,541

Median Household Income

$75,938

Housing Units

699

Renter Percentage

29.0%

Occupancy Rate

92.1%

Renter Occupied

187

The town of Simsbury, Connecticut, encapsulated within ZIP code 61006, offers a stable real estate market characterized by a blend of suburban tranquility and proximity to urban amenities. This area is particularly interesting for investors looking to engage with the Section 8 program due to its specific economic indicators and housing dynamics.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, providing a benchmark for rental pricing that aligns with federal housing assistance standards.
The actual market rent, as reported by the Census Bureau's American Community Survey, stands at $874. This figure is slightly below the FMR, indicating a potential for landlords to attract both subsidized and non-subsidized tenants.
The median home value in the area is $178,918, making it accessible for first-time homebuyers and offering opportunities for real estate investment with a focus on rental properties.
Renters make up 29.0% of the population, suggesting a significant demand for rental units and a viable market for landlords.
The median income of residents is $75,938, which supports the financial health of the community and indicates that many households can afford higher rents or homeownership, potentially leading to a diverse tenant base.
The Days on Market (DOM) for properties is listed as N/A, which might imply a quick turnover rate or a need for more detailed local market research to understand the exact timeline for property listings.

Synthesizing these points, investors in ZIP code 61006 can anticipate a balanced market where the potential for Section 8 participation is strong, given the alignment between market rents and FMR. The median income level supports a robust economy, while the median home value suggests affordability and accessibility for various types of investments. With nearly 30% of the population renting, there is a clear demand for rental housing, making it a favorable location for landlords and small-portfolio investors alike.

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.