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 | $1,270 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,230 |
| 5 Bedrooms | $2,587 |
| 6 Bedrooms | $2,897 |
| 7 Bedrooms | $3,129 |
| 8 Bedrooms | $3,285 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,950 | $309,407 | 0.63% | D |
U.S. Census Bureau data (2024)
The classification of ZIP code 60034 hinges on its financial metrics, particularly when comparing the Federal Market Rent (FMR) to the market rent and home values. For fiscal year 2024, the FMR for ZIP 60034 stands at $1,480. This figure is significantly higher than the market rent of $795, indicating a potential high-yield opportunity for landlords and investors who can secure Section 8 tenants. The disparity between the FMR and the market rent suggests that there is room for profit, especially when considering the median home value of $315,419.
On the stability axis, ZIP 60034 reveals a mixed picture. Approximately 25.7% of the residents are renters, which is a relatively low percentage. This implies that there might be less demand for rental properties compared to areas with higher percentages of renters. Additionally, the average daily days on market (DOM) data is not available, which makes it difficult to assess how quickly rental properties are typically occupied in this area. However, the median household income of $87,188 suggests that there is a reasonable level of economic stability among the residents.
Given these figures, ZIP 60034 appears to be more of a steady-cashflow zone rather than a high-yield/low-stability flip-style market. While the potential for high yields exists due to the significant difference between the FMR and market rent, the lower percentage of renters and the lack of DOM data indicate a more stable and predictable market. Investors should consider the balance between potential returns and the stability of the tenant pool, given the income levels and the existing rental market dynamics.
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.