Section 8 Fair Market Rent (FMR) for ZIP 60075 - 2027

Location: Chicago-Joliet-Naperville, IL | Metro: Chicago-Joliet-Naperville, IL HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,370
1 Bedroom	$1,420
2 Bedrooms	$1,680
3 Bedrooms	$2,210
4 Bedrooms	$2,530
5 Bedrooms	$2,935
6 Bedrooms	$3,287
7 Bedrooms	$3,550
8 Bedrooms	$3,728

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

129

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 60075, located in Lake Bluff, Illinois, is part of a suburban landscape characterized by its quiet charm and proximity to Chicago. This area is known for its well-maintained homes and serene living environment, making it attractive to families and those seeking a peaceful retreat from the city.

Fair Market Rent (FMR) for a 2-bedroom apartment is $1760: This figure, set for the fiscal year 2024, indicates the maximum amount that a household receiving Section 8 assistance can pay for housing in this ZIP code.
Renter share is 0.0%: The data shows that there are no renters recorded in the ZIP code 60075, suggesting that the majority of residents own their homes rather than renting.
Median home value is N/A: Unfortunately, specific data on the median home value for ZIP code 60075 is not available, which makes it difficult to assess the typical price range of properties in the area.
Days on Market (DOM) is N/A: Information regarding the average number of days a property stays on the market before being sold is also not available, which could be crucial for understanding the local real estate market's activity level.
Median income is N/A: The median income data for the ZIP code is unavailable, which would have been useful for gauging the economic status of the residents and their ability to afford higher rents or home values.

In summary, ZIP code 60075 presents a unique challenge for Section 8 real-estate analysis due to the lack of data on key metrics such as median home value, DOM, and median income. However, the absence of renters and the established FMR for Section 8 households suggest that this area primarily caters to homeowners. Landlords and small-portfolio investors should focus on opportunities aligned with owner-occupied housing trends and consider the potential for converting properties into rental units if they aim to attract Section 8 tenants, though this strategy would require navigating the complexities of a predominantly owner-occupied market.

Data Sources: FMR data from HUD (2027). 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.