Location: Whiteside County, IL | Metro: Bureau County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The analysis of Section 8 cap rates for ZIP code 61376 reveals some interesting insights for landlords and small-portfolio investors. With a median home value of $144,544, we can derive the gross yield based on two different scenarios: using the Fair Market Rent (FMR) and the market rent.
In the first scenario, using the annualized 2BR FMR of $1,270 for fiscal year 2026, the implied gross yield is calculated as follows:
In the second scenario, where the market rent is not available (N/A), it's impossible to calculate a precise gross yield. However, for the sake of comparison, if we were to assume that the market rent would be higher than the FMR, the gross yield would likely be greater than 8.8%. But without specific figures, we cannot provide an exact percentage.
Given the 21.5% renter density in ZIP 61376, the FMR-based gross yield of 8.8% offers a more concrete basis for investment decisions. The lack of data on market rent and days on market (DOM) suggests that the rental market in this area might be less active or less documented compared to other regions, making the FMR a safer and more reliable indicator for potential returns.
Landlords and small-portfolio investors should consider the FMR-based gross yield as a conservative estimate when evaluating the potential for Section 8 properties in ZIP 61376. While the actual market rent could offer better returns, the uncertainty around this figure makes the FMR a prudent starting point for analysis.
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.