Location: Whiteside County, IL | Metro: Davenport-Moline-Rock Island, IA-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 | $740 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $188,353 | 0.72% | D |
U.S. Census Bureau data (2024)
The ZIP code 61277 is situated in a small, tight-knit community with a total population of 3,054. Renters make up 23.5% of the residents, indicating a primarily owner-occupied area. The median household income in this ZIP code stands at $70,363, reflecting a middle-class neighborhood. Median home values are relatively low at $159,383, suggesting affordability for both homeowners and potential investors.
From an investment standpoint, the Fair Market Rent (FMR) for ZIP 61277 in fiscal year 2024 is set at $860. In contrast, the actual market rent, according to the Census Bureau's American Community Survey (ACS), is $801. This gap between FMR and market rent presents an opportunity for hands-off Section 8 operators who can benefit from the higher FMR reimbursement rates without having to aggressively manage properties.
However, for hands-on value-add buyers, the landscape offers another set of opportunities. With a lower median home value, there is potential to acquire properties at a discount and improve them, either through renovations or strategic management practices, to command higher rents or increase property values. Given the modest income levels and rental rates, such improvements could be particularly attractive to tenants and voucher holders alike.
In summary, ZIP 61277 is well-suited for both hands-off and hands-on Section 8 investors. Hands-off operators can capitalize on the higher FMR rates, while value-add buyers have the chance to enhance their investments and potentially outpace the local market rent of $801 with the support of the $860 FMR subsidy.
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.