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 | $700 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $980 | $139,115 | 0.7% | D |
| 3BR | $1,300 | $186,411 | 0.7% | D |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $960 for the metro area in fiscal year 2026, Oglesby, IL, represented by ZIP code 61348, presents a clear opportunity for landlords and small-portfolio investors. The Census American Community Survey (ACS) reports a market rent of $851, indicating that properties priced at the FMR could attract tenants willing to pay slightly above average rates. The median home value stands at $164,296, suggesting a relatively affordable market for purchasing rental properties. Renter share in the area is 27.4%, which means there is a significant portion of the population looking for rental accommodations. The median income of $76,369 provides insight into the financial stability of potential tenants, as it aligns well with the affordability of homes priced around the median value. While the days on market (DOM) and the percentage of price-cut share are not available, the data still paints a robust picture of the rental market in Oglesby. Landlords can expect steady demand, with the FMR providing a benchmark for setting competitive rents. The discrepancy between the FMR and market rent suggests a margin for profit without pricing out the majority of the local tenant pool. In conclusion, the combination of an affordable median home value, a stable median income, and a favorable renter share makes Oglesby an attractive location for Section 8 participation, with the potential for consistent occupancy and revenue.
Section 8 Verdict: Acceptable.
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.