Location: Chicago-Joliet-Naperville, IL | Metro: Chicago-Joliet-Naperville, 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 | $1,800 |
| 1 Bedroom | $1,910 |
| 2 Bedrooms | $2,160 |
| 3 Bedrooms | $2,780 |
| 4 Bedrooms | $3,170 |
| 5 Bedrooms | $3,677 |
| 6 Bedrooms | $4,118 |
| 7 Bedrooms | $4,447 |
| 8 Bedrooms | $4,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,910 | $176,954 | 1.08% | B |
| 2BR | $2,160 | $254,323 | 0.85% | C |
| 3BR | $2,780 | $375,039 | 0.74% | D |
| 4BR | $3,170 | $495,406 | 0.64% | D |
| 5BR | $3,677 | $618,475 | 0.59% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 60008, located in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, aligns closely with federal guidelines. The Fair Market Rent (FMR) set at $1,950 for fiscal year 2024 slightly exceeds the market rent of $1,931 as indicated by the Zillow Observed Rent Index (ZORI). This suggests that landlords can expect to charge rents that are nearly in line with what tenants can be expected to pay under government assistance programs, thus ensuring steady income.
Acquisition costs remain reasonable for potential investors looking to enter the Rolling Meadows market. With a median home value of $330,979, the area offers a balance between affordability and property value. However, the lack of data on days on market (DOM) and the price-cut share indicates a stable market with little fluctuation, which could mean limited opportunities for acquiring properties at distressed prices.
Tenant demand is strong in ZIP 60008. The population of 22,800 includes a significant rental market share of 29.2%, indicating a robust pool of potential renters. This high percentage of renters supports the viability of rental investments and ensures a consistent demand for housing units.
In conclusion, ZIP 60008 presents a favorable environment for real estate investment, particularly in the rental sector. The rent math is sound, with FMR closely matching market rents. Acquisition costs are manageable, and the strong tenant demand provides assurance of occupancy. Landlords and small-portfolio investors can confidently pursue opportunities in this area, knowing they will likely meet both their financial goals and the needs of their tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.