Location: La Salle County, IL | Metro: Grundy County, IL HUD Metro FMR Area
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 | $930 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,790 | $258,415 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 61360 is situated in a predominantly suburban neighborhood with a relatively low population density. With a total population of 3,610, it stands out as an area where homeownership is prevalent, with only 22.0% of residents being renters. The median household income here is strong at $95,093, indicating a community that is financially stable and capable of supporting various living arrangements. The median home value in the area is $226,885, reflecting a mix of modest and middle-class dwellings.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 61360 as of the fiscal year 2024 is set at $1,300. This figure is notably higher than the average market rent reported by the Census Bureau's American Community Survey, which stands at $1,159. This discrepancy suggests a potential opportunity for landlords who can offer properties at or near the FMR threshold, particularly those willing to cater to the needs of Section 8 tenants.
The practical implications for investors hinge on their approach to property management. For hands-off operators looking to capitalize on the voucher program, ZIP 61360 presents a viable option given the relatively high FMR compared to the average market rent. However, for hands-on investors aiming to add value through renovations or improvements, the modest median home value indicates that there might be limited upside potential in increasing the property value beyond the current market standards. In summary, ZIP 61360 leans towards being more suitable for hands-off voucher operators due to the favorable rent differential and the stable financial backdrop of the area.
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.