Location: Ogle County, IL | Metro: Ogle County, IL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $165,814 | 0.61% | D |
| 3BR | $1,230 | $235,842 | 0.52% | F |
| 4BR | $1,530 | $319,678 | 0.48% | F |
U.S. Census Bureau data (2024)
ZIP code 61061, located in Oregon, IL within the Ogle County, IL metro area, exhibits characteristics that position it as a mid-tier neighborhood compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,030, which serves as a benchmark for evaluating rental markets.
In ZIP 61061, the market rent stands at $905, slightly below the FMR. This indicates that landlords in this ZIP can expect rents to be somewhat lower than the average for the entire metro area. However, the home value in this ZIP is $221,976, which is a significant figure suggesting that property owners have a reasonable investment base.
The renter share in ZIP 61061 is 27.7%, which is higher than the national average but not necessarily indicative of a Section 8 sweet spot without additional context on the overall housing market dynamics. To determine if this ZIP represents a value pocket or a premium sub-market, we must consider how these figures align with broader trends in Ogle County.
If the typical ZIP codes in Ogle County have FMRs closer to $1,030 and market rents above $905, then ZIP 61061 would indeed be seen as offering a more affordable rental option for tenants, making it a potential value pocket. Conversely, if most other ZIP codes in the county have significantly lower market rents and home values, ZIP 61061 could be considered a premium sub-market due to its relatively higher home value.
The divergence between the higher renter share and the below-metro average home value might suggest a concentration of rental properties, including those subsidized by Section 8, attracting a mix of tenants who prefer renting over purchasing. This scenario could indicate a sweet spot for landlords looking to manage Section 8 properties, given the balance between a supportive renter base and manageable property costs.
To make a definitive assessment, further analysis of comparable ZIP codes in Ogle County is necessary, focusing on their respective FMRs, market rents, home values, and renter shares. This would provide a clearer picture of where ZIP 61061 stands relative to its peers.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.