Location: La Salle County, IL | Metro: La Salle 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 | $810 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $115,703 | 1% | B |
| 3BR | $1,510 | $156,984 | 0.96% | C |
| 4BR | $1,860 | $193,488 | 0.96% | C |
U.S. Census Bureau data (2024)
The ZIP code 61301 encompasses a portion of La Salle, Illinois, characterized by a modest-sized community of 10,398 residents. A significant segment, 32.0%, are renters, indicating a substantial demand for rental properties. The median household income stands at $60,328, reflecting a middle-class area where affordability is a key consideration. The median home value of $132,489 suggests that homeownership is relatively accessible, but it also implies that rental properties could be priced competitively.
Moving into the specifics of rent economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,160. This figure represents the maximum amount that a Section 8 voucher holder can pay for rent, based on HUD guidelines. In contrast, the market rent, as per the Census ACS, is $1,039. This indicates that there is a slight premium for voucher holders, making Section 8 properties more attractive financially compared to the general market rent.
Given these parameters, ZIP 61301 would suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the presence of a steady stream of voucher holders ensures a reliable source of income without the need for extensive tenant screening or property management. The FMR being higher than the market rent means that landlords can potentially charge slightly more without deterring voucher recipients.
On the other hand, value-add buyers could find opportunities to improve properties and increase their rental value closer to the FMR. This strategy could lead to higher returns while still maintaining affordability for tenants. The mix of middle-income residents and a moderate median home value also suggests that there is room for renovation and improvement projects to add value to the investment.
In conclusion, ZIP 61301 presents a balanced environment for Section 8 investments, offering both stability and potential for growth. Whether aiming for passive income or active property management, the economic conditions support successful outcomes for landlords and small-portfolio investors alike.
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.