Location: Stephenson County, IL | Metro: Jo Daviess County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
The market in ZIP code 61044 presents a unique snapshot that suggests a dynamic equilibrium between supply and demand. With the Fair Market Rent (FMR) set at $950 for fiscal year 2026, it's evident that the rental market is being closely monitored, likely due to the area's growing interest among investors and residents alike. The fact that specific figures for market rent, price-cut share, days on market (DOM), and median home value are not available indicates a lack of comprehensive data, which could be due to various factors including a relatively new or niche market.
A notable feature of this market is the reported 0.0% renter share. This statistic implies that the majority of households in ZIP 61044 own their homes rather than renting. While this might suggest a low immediate demand for rental properties, it also points to a potential long-term housing pressure. As the population grows and changes, the demand for rentals can shift, creating opportunities for landlords and small-portfolio investors to capitalize on emerging needs.
The absence of certain metrics such as price-cut share and DOM could indicate a stable market with little fluctuation, where landlords maintain consistent pricing and properties are sold quickly without extended periods on the market. However, this inference must be treated with caution given the limited data available.
In conclusion, ZIP 61044 appears to be a market in transition, characterized by owner-occupied homes and a defined fair market rent, but lacking in detailed rental market statistics. This suggests a primarily homeowner-focused community with untapped potential for rental investments as demographics evolve.
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.