Rockford, IL · Illinois
Boone County
ZIP 61038
53,316 residents64 permits TTM$81,638 median HHI5 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$198,600
ACS 5-Year
Cap rate proxy
6.1%
FMR × 0.65 ÷ Home Value
Rent-to-income
14.9%
HUD FMR ÷ ACS HHI
Net migration
+2.32%
IRS SOI
Permits (TTM)
64
Census BPS
Climate risk
57.3
FEMA NRI (0–100)
ZIP 61038
Median home value
$313,584
Gross yield
4.8%
Cap rate
3.9%
Rent gap
19.8%
Affordability
P/I: 3.8R/I: —
Section 8 detail
SAFMR: $1,260Rent: $1,011Gap: 24.6%
ZIP code breakdown5 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 61008 | — | — | — | 4.8% | — |
| 61012 | $260,829 | $1,170 | 5.4% | 4.7% | 13.6% |
| 61065 | — | — | — | 4.5% | — |
| 61038 | $313,584 | $1,260 | 4.8% | 3.9% | 19.8% |
| 61011 | — | — | — | 3.4% | — |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
83.0%
Census ACS
Vacancy rate
5.4%
Census ACS
Bachelor's degree +
23.2%
Census ACS
Rent burdened
43.4%
Census ACS (>30% income)
Median age
39.5
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026