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 | $910 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $136,014 | 0.96% | C |
| 3BR | $1,710 | $218,407 | 0.78% | D |
| 4BR | $1,750 | $287,678 | 0.61% | D |
U.S. Census Bureau data (2024)
The classification of ZIP code 61115 (Machesney Park, IL) reveals a unique balance between yield and stability, making it an interesting market for both high-risk and steady-cashflow investment strategies.
On the yield axis, the Federal Market Rent (FMR) for ZIP 61115 is set at $1,200 for fiscal year 2024, compared to the market rent of $1,104. This indicates that properties participating in the Section 8 program can command a higher rental rate, thus providing a stronger return on investment. Additionally, the median home value of $201,363 supports this higher yield potential, as it suggests a reasonable entry cost relative to the expected rental income.
Moving to the stability axis, we see that 20.5% of residents are renters, which is a moderate figure suggesting a stable demand for rental housing. The average household income of $75,363 further reinforces the stability of the market, as it implies a consistent ability among tenants to meet their rental obligations. However, the lack of data on days on market (DOM) introduces some uncertainty regarding the speed at which rental units can be filled, which could impact the overall stability of cash flow.
Based on these figures, ZIP 61115 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The slightly elevated FMR over market rent and the moderate percentage of renters point to a market where the risk of vacancy is lower due to stable income levels and a reasonable demand for rentals. While the yield is attractive, the absence of high volatility indicators such as low rental rates or extremely high DOM values suggests that the market is more suited for long-term, consistent returns.
To summarize, the combination of a modestly higher FMR, moderate renter population, and solid average income makes ZIP 61115 a reliable option for landlords and small-portfolio investors seeking a balance between yield and stability. The median home value also ensures that the initial investment remains reasonable, aligning well with a strategy focused on steady cash flow.
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.