Section 8 Fair Market Rent (FMR) for ZIP 60010 - 2027

Investment Score for ZIP 60010

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,520
1 Bedroom	$2,670
2 Bedrooms	$3,020
3 Bedrooms	$3,880
4 Bedrooms	$4,440
5 Bedrooms	$5,150
6 Bedrooms	$5,768
7 Bedrooms	$6,229
8 Bedrooms	$6,540

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$3,020	$370,276	0.82%	C
3BR	$3,880	$550,469	0.7%	D
4BR	$4,440	$815,265	0.54%	F
5BR	$5,150	$1,176,608	0.44%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 60010 (Barrington, IL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for Barrington, IL (ZIP 60010), as of 2026, is set at $2670 for a two-bedroom unit. This represents 18.0% of the median household income in the area, which stands at $177,566. The FMR is significantly lower than the actual rent prices in the market. For instance, the Zillow median price for a two-bedroom unit is $353,698, indicating a price-to-FMR ratio of 11.0x. This means that the actual market rent for a two-bedroom unit is approximately $26,700 annually, whereas the FMR is only $32,040 over five years. Given these figures, voucher holders face significant constraints. The FMR for a two-bedroom unit is $2670, but the actual market rent is likely much higher, making it challenging for voucher holders to find suitable housing within their budget. The disparity between FMR and actual rent prices suggests that landlords may be hesitant to accept vouchers due to the lower rent they can charge compared to market rates. #### Affordability & Renter Profile Barrington has a relatively small rental market, with only 13.2% of households being renters. This indicates that the majority of residents own their homes, contributing to a tight rental market where supply is limited. The occupancy rate of 95.3% further supports this conclusion, showing that most available units are already occupied. The median household income of $177,566 suggests that renters in this area are likely high-income individuals who can afford market rates. However, those relying on Section 8 vouchers would struggle to find affordable housing given the high cost of living and the low FMR relative to market prices. The limited rental stock and high demand make it difficult for voucher holders to secure housing, especially when landlords prefer higher-paying tenants. #### Investor Angle From an investor perspective, the ZIP code 60010 presents mixed opportunities. The FMR for a two-bedroom unit is $2670, while the actual market rent is around $26,700 annually. Given the high median household income and the limited rental market, investors might find it challenging to achieve positive cash flow at FMR levels. The gap between FMR and market rents is substantial, suggesting that landlords who accept vouchers may need to rely on other sources of income to cover costs. The investment grade in this area is likely to be moderate to low for Section 8-focused investors. While there is a strong demand for rentals, the limited supply and the high market rents mean that properties rented at FMR levels may not generate sufficient returns to justify the investment. Additionally, the tight rental market could lead to increased competition among landlords for voucher tenants, potentially driving down the overall rental income. #### Specific Actionable Insights 1. **Target High-Demand Units**: Investors should focus on acquiring properties that are in high demand, such as three- and four-bedroom units. These units have higher FMRs ($3440 and $3980 respectively), which may better align with market rents. For example, a four-bedroom unit at $3980 per month is still only about 11.1% of the median household income, making it more feasible for voucher holders to afford. 2. **Consider Property Upgrades**: To attract both voucher holders and market-rate tenants, consider upgrading properties to meet higher standards. This could include modernizing kitchens and bathrooms, improving insulation, and adding amenities like laundry facilities or parking. Such upgrades could help justify slightly higher rents while still remaining within the FMR guidelines. 3. **Explore Government Programs**: Investigate government programs that provide additional subsidies or incentives for landlords who accept Section 8 vouchers. These programs could help bridge the gap between FMR and market rents, making the investment more financially viable. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP 60010 (Barrington, IL) is to **Skip**. The significant disparity between FMR and market rents, combined with the limited rental market and high occupancy rates, makes it challenging to achieve positive cash flow. While there is potential in targeting larger units and exploring government programs, the overall environment is not favorable for investors primarily interested in Section 8 vouchers.

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.