Location: Jo Daviess County, IL | Metro: Jo Daviess County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 61025 presents an interesting scenario for both renters and landlords. The median household income stands at $70,739, which is a solid financial base but raises questions about affordability when it comes to rental costs.
Renters in this area face a market rate of $884 per month for housing, based on Census ACS data. This figure represents a significant portion of their income, especially considering the typical living expenses and other financial obligations. However, the situation becomes even more challenging when comparing the market rate to the Fair Market Rent (FMR) standard set by the voucher program, which is $1,050 per month for the metro area in fiscal year 2026. This indicates that the market rate is below the voucher payment standard, suggesting that voucher holders could potentially afford higher rents than the current market offers.
The population of ZIP 61025 is 4,294, with 15.6% being renters. This relatively low percentage of renters implies a competitive landscape for landlords, where attracting tenants might require offering better terms or amenities compared to neighboring areas. The disparity between the median income and the market rent rate, alongside the higher voucher payment standard, points to an affordability gap that affects both renters and landlords.
For landlords, the takeaway is clear: while there is a pool of potential tenants who could be cash-paying, the number of voucher holders willing to pay up to $1,050 might offer a more stable and reliable source of income. Given the lower market rates, accepting vouchers could provide a strategic advantage in securing long-term tenants without compromising on rental income. Moreover, focusing on the needs of voucher recipients could help landlords stand out in a competitive market, ensuring a steady occupancy rate.
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.