Location: Whiteside County, IL | Metro: Whiteside County, IL
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 | $680 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $188,996 | 0.65% | D |
U.S. Census Bureau data (2024)
A household in ZIP code 61230, with a median income of $62,344, faces significant challenges in affording the market rate rent of $736. This figure comes directly from the Census Bureau's American Community Survey (ACS) data, indicating that the average rent exceeds what many residents can comfortably pay.
The Federal Market Rent (FMR) standard for the metro area in fiscal year 2026 is set at $940. This represents the maximum amount that a Section 8 housing voucher will cover for a unit in this area. Given the discrepancy between the market rate and the voucher payment, it's evident that voucher holders would struggle to find units within their budget without landlords accepting lower payments.
In ZIP 61230, only 10.7% of the population are renters, totaling approximately 110 individuals. The low percentage of renters suggests limited competition among landlords for tenants. However, the affordability gap means that landlords who rely solely on market-rate rents may face difficulties filling vacancies, especially when compared to those willing to accept Section 8 vouchers.
The takeaway for landlords considering whether to adopt a voucher-friendly strategy versus sticking with cash-paying tenants is clear. While market-rate rents are higher, the lower demand for rental properties could result in longer vacancy periods. Accepting Section 8 vouchers, despite the lower payment, ensures a steady stream of tenants and potentially less time spent on finding suitable occupants. Landlords should weigh the benefits of guaranteed occupancy against the slightly reduced rental income.
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.