Location: La Salle County, IL | Metro: La Salle County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The ZIP code 61325 presents a dynamic rental market with specific characteristics that indicate a balance between supply and demand, leaning slightly towards demand pressure. The Fair Market Rent (FMR) for the area is set at $1,050 for fiscal year 2026, which is higher than the current market rent of $995. This suggests that landlords can expect an increase in the rental income they can charge as the market adjusts to meet the FMR standards.
The median home value of $231,904 is indicative of a stable housing market, but the lack of data on price-cut share and days on market (DOM) makes it challenging to pinpoint whether there is currently an over-supply or under-supply of rental units. However, the fact that the FMR exceeds the market rent could imply that there is a slight shortage of affordable units, pushing the average rental price upwards as the area approaches the FMR.
A noteworthy aspect of this market is the 11.6% renter share. This percentage is relatively low compared to many metropolitan areas, indicating that a majority of residents prefer homeownership. Despite this, the low renter share also suggests that there could be significant long-term housing pressure. As more individuals and families seek rental properties due to financial constraints or lifestyle choices, the limited number of renters could lead to increased competition for available units, potentially driving up rents further.
The current situation in ZIP 61325 hints at a market where demand is beginning to catch up with supply, particularly as the area moves closer to the FMR. Landlords and small-portfolio investors should closely monitor these trends, as they suggest a gradual tightening of the rental market. With the median home value remaining steady, it is likely that the rental sector will become increasingly important as a means of accommodating those who cannot afford homeownership, thereby exerting upward pressure on rental rates.
Data Sources: FMR data from HUD (2027). 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.