Location: Rockford, IL | Metro: Rockford, IL MSA
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 | $840 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $221,551 | 0.54% | F |
| 3BR | $1,580 | $288,583 | 0.55% | F |
| 4BR | $1,620 | $360,491 | 0.45% | F |
| 5BR | $1,879 | $407,779 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 61072, located in Rockton, IL, presents a market in equilibrium, with slight indications of demand catching up to supply. The Fair Market Rent (FMR) for the area stands at $970 for fiscal year 2024, closely matching the market rent of $976 as reported by the Census ACS. This near parity suggests that rental prices are reflective of the local economic conditions and tenant affordability.
A median home value of $288,579 indicates a stable residential market, where homeownership remains accessible but not without consideration of financial commitment. The absence of data on price-cut share and days on market (DOM) prevents a definitive analysis of the speed at which homes are selling or the necessity for price adjustments to attract buyers, yet the available information hints at a balanced market.
The 16.4% renter share in Rockton, IL, is noteworthy. While it's lower than the national average, it still points towards a significant segment of the population preferring or needing to rent rather than buy. This trend can be indicative of several factors, including transient populations, young professionals, or individuals who cannot afford to purchase a home. Over the long term, a consistent renter share suggests ongoing housing pressure, as there will always be a need for rental properties to accommodate those who choose or must rent.
In summary, ZIP 61072 is characterized by a market where rental and home values are stable and reflective of local demand. The modest renter share implies a steady need for rental units, making it a viable investment opportunity for landlords and small-portfolio investors. However, the lack of detailed supply-side data means that precise conclusions about whether supply outpaces demand or vice versa cannot be drawn. The current snapshot suggests a market that is well-adjusted to its local economy and demographics.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.