Location: Stephenson County, IL | Metro: Stephenson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,210 |
| 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 61050 encompasses a small, predominantly owner-occupied neighborhood with a total population of 199 residents. Given the 0.0% rental rate, it's evident that this area is heavily skewed towards homeownership, making it an atypical environment for traditional rental investments. The median household income in this ZIP code stands at a robust $74,728, suggesting a community that is financially stable and likely composed of middle-class families.
Despite the lack of comprehensive data on market rents, the Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $940. This figure, while not specific to ZIP 61050, can provide a benchmark for understanding the potential rental income in the broader context. It's important to note that the absence of market rent data for this particular ZIP code indicates a scarcity of rental properties, which aligns with the low rental rate statistic.
Considering these factors, ZIP 61050 would be a challenging market for a hands-off Section 8 voucher operator. The low number of renters and the high median income suggest that tenants qualifying for Section 8 assistance might be few and far between. For a hands-on value-add buyer, however, there could be opportunities to convert underutilized properties into rentals, particularly if they are willing to invest in improving the property's appeal and addressing any structural or maintenance issues. This approach would require active management and a keen eye for identifying properties that could benefit from such improvements, potentially offering higher returns than average due to the limited competition in the rental sector.
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.