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 | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $90,171 | 1.18% | B |
| 3BR | $1,400 | $141,400 | 0.99% | C |
| 4BR | $1,450 | $155,787 | 0.93% | C |
| 5BR | $1,682 | $157,717 | 1.07% | B |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 61102 in Rockford, Illinois, for fiscal year 2024 is set at $940. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is not the actual rent you will receive; it's the benchmark used by the government to determine the highest allowable rent for subsidized housing.
In comparison, the average rent in ZIP 61102, based on Census American Community Survey (ACS) data, is $883. This suggests that the FMR is slightly higher than the typical market rate, which could be beneficial for landlords participating in the Section 8 program.
The rental share in this ZIP code is 35.6%, indicating that a significant portion of the population rents their homes. This high percentage signals strong demand for rental properties, including those under the Section 8 program. However, the average household income in the area is $117,032, which is higher than the typical income of a Section 8 participant. This means that while there is a need for affordable housing, the local economy might support higher market rents, making Section 8 rentals potentially less profitable compared to market-rate units.
Before committing to a Section 8 rental property, ensure that the property meets all the required inspection standards set by the Housing Authority. These inspections are rigorous and designed to confirm that the property is safe, habitable, and up to code. Failure to meet these standards can result in rejection of your rental application, causing delays and additional costs.
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.