Location: Whiteside County, IL | Metro: Whiteside County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,230 |
| 5 Bedrooms | $1,427 |
| 6 Bedrooms | $1,598 |
| 7 Bedrooms | $1,726 |
| 8 Bedrooms | $1,812 |
U.S. Census Bureau data (2024)
The market in ZIP code 61037 presents a unique set of conditions that frame it as a market in motion, particularly when considering the dynamics of supply and demand within the context of Section 8 housing. The Fair Market Rent (FMR) for the area, as of fiscal year 2026, is set at $920. This figure serves as a benchmark for rental prices in the area, indicating what the government deems a reasonable amount for rental units to be priced at for low-income households.
The absence of specific market rent data suggests that there might not be significant private sector activity in this ZIP code that directly competes with the FMR. This could imply that the local rental market is either underdeveloped or heavily influenced by subsidized housing programs such as Section 8. The lack of data on price-cut shares and days on market (DOM) further underscores the limited availability of detailed market analysis for this region, which might indicate a stable but possibly stagnant rental market.
A 0.0% renter share is particularly noteworthy. It points towards a predominantly owner-occupied environment, suggesting that long-term housing pressure may not manifest in typical rent increases or vacancy rates. Instead, any housing pressure could be felt through potential challenges in homeownership, such as affordability or access to mortgage financing, rather than through the rental sector. This scenario can also mean that the local economy supports homeownership over renting, or there is a strong preference among residents for owning property.
In conclusion, ZIP code 61037 appears to be a market where supply closely matches demand, given the lack of competitive private rental data. The high reliance on owner-occupied homes, indicated by the 0.0% renter share, suggests that the housing dynamics are less about immediate rental pressures and more about the broader economic and social factors influencing homeownership. For landlords and small-portfolio investors, this means focusing on the stability provided by government-set rents and understanding the local preference for homeownership to make informed decisions.
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.