Location: Jo Daviess County, IL | Metro: Jo Daviess County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
ZIP 61059, located in Jo Daviess County, Illinois, offers a unique opportunity for Section 8 portfolio inclusion due to its characteristics as a cash-flow anchor. The area's Fair Market Rent (FMR) for FY 2026 is set at $1,350 for a metro unit, which stands significantly higher than the market rate of $1,120. This creates a spread of $230, providing a reliable cushion for landlords who participate in the Section 8 program.
The FMR, established by HUD, ensures that tenants can afford their housing costs while landlords receive a fixed rental amount. In ZIP 61059, the FMR exceeds the market rate, guaranteeing that landlords will receive a premium above what they might otherwise collect from non-subsidized renters. This makes the ZIP an attractive anchor for generating consistent cash flow within a Section 8 portfolio.
Despite the lack of data on appreciation potential, given the N/A% price-cut share and N/A-day days on market (DOM), the focus should remain on the stability and predictability offered by the higher FMR. For diversification purposes, the ZIP does have a notable 38.9% renter share, indicating a significant portion of the population relies on rental properties. However, the median income of $54,113 suggests that many residents may be eligible for Section 8 assistance, further reinforcing the ZIP's suitability as a cash-flow anchor.
To summarize, ZIP 61059 is best suited as a cash-flow anchor within a Section 8 portfolio. Landlords can expect to benefit from the $230 spread between the FMR and market rates, ensuring steady and reliable income. While there's limited information on appreciation plays, the high renter share and median income levels support the ZIP's role in securing predictable returns for Section 8-focused investments.
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.