Location: Stephenson County, IL | Metro: Stephenson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,180 |
| 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 Fair Market Rent (FMR) for ZIP code 61067 in the metro area for fiscal year 2026 is set at $950. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 Housing Choice Voucher program. It is important to note that this does not mean you will receive $950 as rent; rather, it is the maximum amount HUD will pay on behalf of eligible tenants.
To put this into perspective, the average rent in ZIP 61067, according to the Census Bureau's American Community Survey (ACS), is $842. This suggests that the FMR is slightly above the local average, which could be beneficial if you aim to cover your costs and make a profit. However, it also implies that rents higher than $950 might struggle to find tenants covered under the Section 8 program.
The 19.9% share of renters in this area indicates a significant demand for rental housing. This high percentage suggests that there are many potential tenants who may benefit from the Section 8 program, making it a viable option for landlords looking to fill vacancies. Given that the acquisition cost is listed as N/A, it is crucial to independently verify the market value of properties in ZIP 61067 to ensure they align with the FMR and local rent trends.
Before proceeding with a Section 8 rental, verify that your property meets all the necessary inspection criteria. HUD requires that all properties leased under the Section 8 program pass a thorough inspection to meet minimum housing quality standards. This ensures that the property is safe, healthy, and decent for tenants, and compliance is essential for receiving payments.
In summary, with an FMR of $950 and an average local rent of $842, the Section 8 program can offer a stable income source for landlords in ZIP 61067. The 19.9% renter share points to a robust demand for rentals, but it is critical to confirm that your property meets the required quality standards to participate effectively in the program.
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.