Location: Whiteside County, IL | Metro: Carroll 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 | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $138,036 | 0.98% | C |
| 4BR | $1,570 | $177,125 | 0.89% | C |
U.S. Census Bureau data (2024)
The ZIP code 61014 is situated in a quiet, suburban neighborhood characterized by a small population of 1,067 residents. The area is predominantly owner-occupied, with only 9.6% of the population being renters. The median household income stands at $69,329, indicating a middle-class community where residents have stable financial situations. The median home value in the area is $147,654, suggesting affordable housing options for both homeowners and potential investors.
Moving into the economic landscape of rental properties, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,120. However, specific market rent data for ZIP 61014 is currently unavailable, which can make it challenging to gauge the exact profitability of rental investments without further research. Despite this lack of detailed local market data, the FMR provides a benchmark for understanding the rental value in the broader region.
Given these factors, ZIP 61014 is better suited for a hands-off Section 8 voucher operator rather than a hands-on value-add buyer. The low percentage of renters suggests limited demand for rental properties, making it less attractive for those looking to actively manage and improve multiple units. For hands-off operators, the stability provided by Section 8 vouchers can ensure a steady stream of income, particularly if the property values align closely with the median home value of $147,654. With the FMR at $1,120, such an investment would be financially viable, assuming the property meets the necessary standards and the rental rates are in line with the voucher program's requirements.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.