Location: Ogle County, IL | Metro: Ogle County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,240 |
| 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 ZIP code 61091 presents several challenges for potential Section 8 landlords and small-portfolio investors. Firstly, the market rent for the area is not available, which can make it difficult to set competitive rates. However, the Fair Market Rent (FMR) for the metro area is $970 for fiscal year 2026, providing a benchmark. Tenant turnover could be higher if the rental price does not align with the local market conditions, potentially leading to frequent vacancies and increased costs associated with finding new tenants.
Vacancy exposure is another concern, as the days on market (DOM) for the area is not specified. This lack of data makes it hard to predict how quickly units will fill up, especially during periods when there is a higher rate of tenant turnover. A longer DOM could mean significant financial strain due to lost rental income.
Deferred maintenance is also a risk factor. The typical home value and median income for the area are not provided, which could indicate that property owners might delay necessary repairs and maintenance. This could lead to higher costs down the line and potential safety hazards that would need immediate attention, impacting the overall profitability of the investment.
Despite these risks, the ZIP code boasts a 100.0% renter share, indicating a high concentration of renters. This statistic suggests a strong demand for rental properties and, by extension, a likely high demand for Section 8 vouchers. High renter density often translates into a robust pool of tenants who qualify for housing assistance, which can stabilize occupancy rates and provide a steady stream of rental income.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.