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 | $2,330 |
| 1 Bedroom | $2,470 |
| 2 Bedrooms | $2,790 |
| 3 Bedrooms | $3,590 |
| 4 Bedrooms | $4,100 |
| 5 Bedrooms | $4,756 |
| 6 Bedrooms | $5,327 |
| 7 Bedrooms | $5,753 |
| 8 Bedrooms | $6,041 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,790 | $400,648 | 0.7% | D |
| 3BR | $3,590 | $1,004,119 | 0.36% | F |
| 4BR | $4,100 | $1,471,671 | 0.28% | F |
| 5BR | $4,756 | $2,232,153 | 0.21% | F |
U.S. Census Bureau data (2024)
ZIP 60022, located in Glencoe, Illinois, within the Chicago-Joliet-Naperville HUD Metro FMR Area, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Family Monthly Rent (FMR) for ZIP 60022 in fiscal year 2024 is set at $2500, which is notably higher than the market median rent of $2,211. This spread ensures that landlords receive a consistent, above-average rental income, stabilizing their overall portfolio's cash flow.
The median home value in ZIP 60022 is $1,553,551, indicating a high-end residential area. However, the primary focus for Section 8 landlords should be on the rental market rather than the home value. The FMR being above the market median rent means that landlords can count on receiving a steady stream of income without the volatility often associated with other markets.
ZIP 60022 does not present itself as an appreciation play due to the lack of significant data points suggesting rapid price increases or short days on market (DOM). In fact, the high median home value and the relatively low median income of $250,011 suggest that while the area is affluent, it may not offer substantial capital gains opportunities through property appreciation alone.
Furthermore, ZIP 60022 acts as a diversifier within a Section 8 portfolio. With 8.4% of residents being renters, it provides a balanced mix of owner-occupied and rental properties. This balance is important for landlords who wish to avoid areas with a high concentration of renters, which might be more susceptible to changes in housing assistance policies or economic downturns.
In summary, ZIP 60022 is best suited as a cash-flow anchor in a Section 8 portfolio strategy. Its higher FMR compared to the market median rent guarantees stable income, while its characteristics as a diversifier add to the robustness of the investment. Landlords should take advantage of these factors to secure reliable returns on their investments.
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.