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 | $870 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $960 | $108,490 | 0.88% | C |
| 2BR | $1,250 | $174,905 | 0.71% | D |
| 3BR | $1,650 | $219,150 | 0.75% | D |
| 4BR | $1,680 | $310,217 | 0.54% | F |
| 5BR | $1,949 | $358,354 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 61111, Loves Park, IL, is characterized by a significant rental population. With 23,286 residents and 39.6% being renters, this area leans towards a renter-heavy environment, suggesting a robust demand for rental properties. The median household income stands at $61,393, which provides a solid economic foundation for the local rental market.
The market rent in Loves Park is $1,119, representing approximately 18.2% of the median household income. This figure is slightly above the Fair Market Rent (FMR) set by HUD for the fiscal year 2024, which is $1,070. The higher market rent indicates that landlords can potentially charge slightly more than the FMR, but it also suggests that tenants might be more sensitive to price increases given the substantial portion of their income dedicated to housing.
In terms of Section 8 voucher utilization, the high percentage of renters and the proximity of market rents to the FMR imply that there is likely a significant number of tenants using vouchers. Landlords in this area can expect a mix of tenants, including those who rely on Section 8 vouchers to cover their rent. These tenants typically have their rent subsidized to about 30% of their adjusted income, making them reliable and often stable renters.
A landlord in Loves Park should anticipate a tenant pool that includes individuals and families with lower incomes who benefit from federal housing assistance. While these tenants may require some additional administrative work to ensure compliance with HUD regulations, they generally offer financial stability due to the government-backed voucher system. It's important for landlords to understand the local rental market dynamics and the role of Section 8 vouchers in providing affordable housing options to the community.
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.