Location: Ogle County, IL | Metro: Lee 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 | $700 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $139,843 | 0.72% | D |
| 3BR | $1,280 | $194,205 | 0.66% | D |
| 4BR | $1,450 | $247,401 | 0.59% | F |
| 5BR | $1,682 | $280,378 | 0.6% | F |
U.S. Census Bureau data (2024)
The ZIP code 61021, located in Dixon, IL within the Ogle County, IL metro, has several distinct characteristics that set it apart from other areas in the county. The Fair Market Rent (FMR) for the fiscal year 2026 is set at $920. This figure represents the maximum amount a landlord can charge for a rental property under the Section 8 program, which is designed to provide affordable housing options.
In contrast, the actual market rent in ZIP 61021 is $879. This indicates that the market rent is slightly below the FMR, suggesting that landlords who participate in the Section 8 program might see a slight increase in income compared to the general market. However, the difference is minimal, implying that the area is likely well-aligned with the broader housing assistance goals.
The median home value in ZIP 61021 stands at $166,119. This figure is indicative of the overall cost of homeownership in the area. When compared to typical Ogle County ZIP codes, this value suggests that 61021 is neither a premium sub-market nor an exceptionally low-value area but rather falls into a mid-tier category in terms of home values.
The renter share in ZIP 61021 is 27.2%. This percentage is higher than what is typically seen in many rural areas, indicating a significant portion of the population rents their homes. A higher renter share combined with below-average home values often points towards a sweet spot for Section 8 participants. It suggests that there are ample opportunities for landlords to offer affordable housing while still maintaining a reasonable profit margin.
Given these figures, ZIP 61021 appears to be a value pocket within the Ogle County, IL metro. The close alignment between the FMR and market rent, coupled with the relatively lower home values and higher renter share, makes it a favorable location for landlords and small-portfolio investors looking to engage in the Section 8 program. This combination supports the notion that Dixon, IL offers a balanced opportunity where the demand for rental properties is met with a manageable cost structure.
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.