Location: Stephenson County, IL | Metro: Stephenson County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 61070 within Stephenson County, IL, reveals several key points for landlords and small-portfolio investors.
The rent math does not work favorably. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,260, which is significantly higher than the actual market rent of $642 reported by the Census ACS. This discrepancy suggests that landlords might struggle to charge rents at the FMR level without facing vacancy issues.
Acquisition is relatively affordable, given the median home value stands at $212,412. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts indicates uncertainty about how quickly properties can be sold or if they require discounts to attract buyers. This makes it difficult to assess the liquidity and potential for resale in this market.
Tenant demand is low. With a population of 1,322 and only 9.6% of residents being renters, landlords will face a limited pool of potential tenants. This could lead to increased competition among rental properties and potentially lower occupancy rates.
In conclusion, while the acquisition cost appears reasonable, the mismatch between FMR and market rent, along with the low tenant demand, presents challenges for landlords and small-portfolio investors in ZIP 61070. The lack of detailed data on property turnover further complicates the investment decision-making process, suggesting a cautious approach to investing in this area.
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.