Location: Ogle County, 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 | $890 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $223,842 | 0.57% | F |
| 3BR | $1,680 | $277,204 | 0.61% | D |
| 4BR | $1,720 | $324,539 | 0.53% | F |
U.S. Census Bureau data (2024)
Winnebago, IL, represented by ZIP code 61088, stands out due to its relatively low rental rate compared to the market average. With a population of 6,167 residents, only 10.2% are renters, indicating a predominantly owner-occupied community. The median income here is $98,088, which is above the national average, and the median home value is $276,262, reflecting a stable housing market.
The Federal Market Rent (FMR) for Section 8 vouchers in Winnebago, IL, for fiscal year 2024 is set at $1,040, slightly below the market rent of $1,058 reported by the Census Bureau's American Community Survey. This close alignment between the FMR and market rates suggests that landlords participating in the Section 8 program can expect reasonable rents that are nearly on par with market conditions, minimizing any financial strain.
The data signature for ZIP 61088 reads as stable. Despite the low percentage of renters, the median income supports homeownership while also ensuring that the rental market remains viable. The slight disparity between the FMR and market rent indicates a balanced environment where both owners and tenants can find satisfaction. For landlords and small-portfolio investors, Winnebago presents an opportunity for steady, predictable returns without the volatility often seen in transitional markets.
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.