Location: Whiteside County, IL | Metro: Carroll 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 | $790 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $138,898 | 0.77% | D |
| 3BR | $1,400 | $191,566 | 0.73% | D |
| 4BR | $1,410 | $209,605 | 0.67% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 61270, Morrison, Illinois, is set at $1,060 for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount the government will pay towards your tenant's rent. However, this does not dictate the rent you charge; it simply limits the subsidy you can receive.
To put this into perspective, the average rent in Morrison, IL, based on Census American Community Survey data, is $903. This suggests that the FMR is slightly higher than the typical market rate, which could be beneficial if you're looking to cover maintenance costs or other expenses associated with renting out your property.
The local renter share stands at 16.9%. This indicates that nearly 17% of the population in Morrison are renters, showing a reasonable demand for rental properties. While this percentage might seem modest, it still represents a significant number of potential tenants who could benefit from Section 8 vouchers.
If you're considering purchasing a property for your first Section 8 rental, the median home value in Morrison is approximately $162,349. This price point should be considered alongside the expected rental income to ensure the investment aligns with your financial goals.
Before proceeding, verify that the property meets all the necessary requirements for Section 8 eligibility. This includes ensuring it passes a Housing Quality Standards (HQS) inspection and complies with local health and safety codes. Once these checks are completed, you'll have a clearer understanding of whether the investment is right for you.
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.