Location: Livingston County, IL | Metro: Ford County, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 61775 is located in a rural setting, primarily encompassing the small town of Barrington, Illinois. With a population of 187, it's a tight-knit community where only 5.4% of residents are renters, indicating a strong preference for homeownership among its inhabitants. The median income and median home value data for this area are currently unavailable, which suggests that it might be challenging to gauge the economic health of the community without additional context.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area, applicable to fiscal year 2026, stands at $1,200. This figure represents the government's estimate of the maximum amount a Section 8 tenant can pay towards their housing costs. However, the market rent for the area is also not available, leaving us with an incomplete picture of how Section 8 rents compare to the local market. Without knowing the market rent, it's difficult to assess the potential profit margins or the attractiveness of the area to Section 8 tenants.
Given the limited data and the low percentage of renters, ZIP 61775 would likely be better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The rural nature and small size of the town suggest a stable but slow-moving real estate market, making it less appealing for active property management strategies aimed at increasing property values through renovations or improvements. For those looking to invest in a steady, low-maintenance portfolio, this ZIP code could be considered, especially if the goal is to avoid the complexities associated with managing properties in areas with higher turnover rates or more volatile markets.
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.