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 | $1,830 |
| 1 Bedroom | $1,940 |
| 2 Bedrooms | $2,190 |
| 3 Bedrooms | $2,820 |
| 4 Bedrooms | $3,220 |
| 5 Bedrooms | $3,735 |
| 6 Bedrooms | $4,183 |
| 7 Bedrooms | $4,518 |
| 8 Bedrooms | $4,744 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,190 | $286,976 | 0.76% | D |
| 3BR | $2,820 | $414,053 | 0.68% | D |
| 4BR | $3,220 | $528,034 | 0.61% | D |
| 5BR | $3,735 | $611,644 | 0.61% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 60012, Crystal Lake, Illinois, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment is set at $2,370 per month for FY 2024. This figure is specific to this ZIP code, meaning it reflects the rental market conditions precisely within 60012. In contrast, the local market rent for a similar unit, according to the Census ACS, is around $1,667 per month.
A landlord participating in the Section 8 program should understand that the total reimbursement includes both the tenant's contribution and the utility allowance. Typically, the tenant pays about 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,600 for a household in this area, the tenant would contribute approximately $480 towards rent.
The utility allowance varies but can be estimated at around $300 per month for a two-bedroom apartment. Therefore, the total reimbursement a landlord can expect from a voucher for a 2BR unit would be the sum of the tenant's contribution and the utility allowance, which comes to roughly $780. This amount is deducted from the SAFMR, leaving the government to cover the remaining balance.
In ZIP 60012, this means the government would pay the difference between the SAFMR and the tenant's contribution plus utilities. For a 2BR unit, this results in a reimbursement of about $1,590 from the government. Adding the tenant's contribution brings the total to $2,070.
Given the local market rent of $1,667, landlords in ZIP 60012 will find themselves with a surplus when renting to a Section 8 tenant. The typical surplus for a 2BR unit is approximately $403 per month, making participation in the program financially beneficial compared to the average market rent.
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.