Location: Jo Daviess County, IL | Metro: Jo Daviess County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 61085 reveals a unique balance between yield and stability that could be attractive to both landlords and small-portfolio investors. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is projected at $1,020, while the local market rent stands at $830. This indicates a moderate premium for federally assisted tenants, suggesting opportunities for higher rental yields when compared to the general market.
With an average home value of $154,647, the potential for property flipping exists, but the market conditions suggest a more stable approach might be more rewarding. The ZIP code has a significant portion of renters at 22.6%, which is a positive indicator for demand. However, the lack of data on days on market (DOM) means we cannot assess the speed at which properties are typically sold, a critical factor for quick flips.
The median household income in the area is $59,798. This figure, combined with the market rent of $830, suggests that while the area offers decent rental income, it may also present challenges in terms of tenant reliability due to the relatively lower income levels compared to the national average. This points towards a moderate level of stability, as higher incomes generally correlate with lower turnover rates and more consistent cash flow.
In conclusion, ZIP 61085 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The moderate rent premium and significant rental population indicate potential for consistent returns. However, the lower income levels suggest that investors should prepare for some variability in tenant behavior. For those seeking a balance between risk and reward, this ZIP code presents a viable option, especially if focused on long-term rental investments over rapid property flips.
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.