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 | $1,740 |
| 1 Bedroom | $1,850 |
| 2 Bedrooms | $2,090 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $3,070 |
| 5 Bedrooms | $3,561 |
| 6 Bedrooms | $3,988 |
| 7 Bedrooms | $4,307 |
| 8 Bedrooms | $4,522 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,850 | $194,373 | 0.95% | C |
| 2BR | $2,090 | $374,030 | 0.56% | F |
| 3BR | $2,690 | $548,615 | 0.49% | F |
| 4BR | $3,070 | $769,365 | 0.4% | F |
| 5BR | $3,561 | $1,070,832 | 0.33% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 60068, located in Park Ridge, IL, reveals a market that is somewhat balanced between yield potential and stability, but leans slightly towards providing steady cash flow rather than being a high-yield, low-stability flip-style market.
On the yield axis, the Fair Market Rent (FMR) for ZIP 60068 in fiscal year 2024 is set at $1,940. This is notably lower than the market rent of $2,566, indicating a moderate gap where landlords could potentially benefit from higher rents if they can secure tenants willing to pay above the FMR. However, the median home value stands at $566,314, which suggests that the overall property values are relatively high, making it less likely to find quick flips that offer substantial profit margins.
Moving to the stability axis, the rental market shows some signs of consistency. With 15.2% of residents being renters, the demand for rental properties is present but not overwhelming, which helps maintain a stable rental environment. The average Days on Market (DOM) is 19 days, indicating a fairly quick turnover for rental listings, which is positive for landlords looking to avoid long vacancies. Additionally, the median household income is $143,222, which supports the ability of residents to meet their rental obligations, contributing to the financial stability of the area.
While there is potential for higher yields due to the disparity between FMR and market rent, the high median home value and moderate rental percentage suggest that the primary advantage here lies in steady cash flow rather than rapid appreciation or flipping opportunities. Landlords and small-portfolio investors should focus on the quality of their properties and tenant selection to capitalize on the moderate yield potential while maintaining the stability of 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.