Location: Ogle County, IL | Metro: Ogle County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The ZIP code 61015, located within the Ogle County, IL metro area, presents several key metrics that can be used to assess its position relative to other ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 61015 is set at $1,060 for fiscal year 2026, aligning closely with the market rent figure of $1,069. This indicates that the rental market in 61015 is fairly competitive and reflective of the broader Ogle County trends.
The median home value in ZIP 61015 stands at $255,112. This figure suggests that while properties in this ZIP code are not among the most expensive in the county, they are also not the least valued. This positioning implies that 61015 could be considered a mid-tier neighborhood in terms of property values.
Furthermore, the renter share in ZIP 61015 is 3.8%. This percentage is relatively low compared to what might be expected in a more urbanized environment within the same metro area. However, it's important to note that this lower-than-average renter share does not necessarily correlate with higher Section 8 activity or opportunities. The similarity between the FMR and market rent suggests a balanced rental market without significant subsidies driving up demand.
To determine if ZIP 61015 represents a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider the interplay between these metrics. Given the close alignment of the FMR and market rent, along with the mid-range home values, ZIP 61015 is best characterized as a mid-tier neighborhood within its metro. It neither offers the lowest rents nor the highest home values, indicating a moderate level of investment potential and rental income.
A notable divergence in the data would typically suggest a Section 8 sweet spot, such as a high renter share with below-average home values. In the case of ZIP 61015, there is no indication of such a scenario; therefore, it cannot be classified as a value pocket or a premium sub-market based on the provided figures alone.
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.