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 | $1,380 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,120 | $413,706 | 0.51% | F |
| 4BR | $2,420 | $475,130 | 0.51% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 60071 reveals a unique balance between yield and stability, making it an intriguing market for real-estate investment. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,410, significantly higher than the current market rent of $1,242. This suggests that properties in this area can potentially command higher rents, leading to a higher yield compared to the immediate market conditions.
However, the median home value stands at $377,584, which is notably high. This indicates that acquiring properties in this ZIP code would require a substantial initial investment. The percentage of renters in the area is 34.7%, which is not particularly low, but it does imply a decent demand for rental properties. The average daily days on market (DOM) figure is not available, which could be due to the relatively stable rental market where properties do not typically remain unsold or unrented for long periods.
The median household income in ZIP 60071 is $74,426, which is a positive indicator for stability. Higher incomes generally correlate with lower risk of default on rent payments and a greater ability to afford higher rents. Given these figures, ZIP 60071 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. While the potential for higher rents exists, the significant median home value and the presence of a solid income base suggest that the primary benefit here is consistent, reliable cash flow rather than rapid turnover or speculative gains.
To summarize, the key figures driving this conclusion are the FMR of $1,410 versus the market rent of $1,242, indicating a strong potential for yield. However, the median home value of $377,584 and median income of $74,426 point towards a stable market where the focus should be on long-term investment and steady returns rather than short-term flips or high-risk, high-reward strategies.
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.