Location: Ogle County, IL | Metro: Ogle County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $179,804 | 0.63% | D |
| 3BR | $1,360 | $272,610 | 0.5% | F |
| 4BR | $1,740 | $329,727 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 61010, located in Byron, Illinois, stands out within Ogle County due to several key factors. With a population of 7,497 residents, it has a relatively low rental rate at 18.2%, indicating that homeownership is prevalent in the area. The median income of $93,613 suggests that the community is financially stable, supporting higher median home values of $265,093.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,240, which is notably above the current market rent of $951 as reported by the Census ACS. This means that landlords who participate in the Section 8 program can expect to receive a higher rent payment compared to the local market rates, making it an attractive option for property owners in Byron, IL.
The data signature for ZIP 61010 reads as stable. The high median home value and median income suggest that the area is well-established with a strong foundation in housing and economic terms. The disparity between the FMR and the actual market rent also indicates a potential opportunity for landlords to benefit from the Section 8 program without facing significant risks associated with transitional markets.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.