Location: Rockford, IL | Metro: Rockford, IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
The median home value in ZIP 61126, Rockford, IL is $210,584. The HUD Fair Market Rent (FMR) for the area is set at $1,020 for FY 2024. Given the median rent of $1,559, voucher tenants will only cashflow with premium units. The rent-to-price ratio, calculated from these figures, is approximately 0.74%, indicating that rents are lower relative to home values.
The median days on market (DOM) and percentage of price cuts are not available for this analysis. However, it's worth noting that the strong correlation between the rising median rent and home value suggests that the rental market is robust and closely tied to the housing market dynamics.
The strongest investor angle in ZIP 61126 is stability. Despite the lower cash flow potential due to the disparity between FMR and market rent, the consistent increase in both median rent and home values provides a reliable environment for long-term investment.
Data Sources: FMR data from HUD (2027).
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.