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 | $1,430 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,710 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,510 |
| 5 Bedrooms | $2,912 |
| 6 Bedrooms | $3,261 |
| 7 Bedrooms | $3,522 |
| 8 Bedrooms | $3,698 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,710 | $215,702 | 0.79% | D |
| 3BR | $2,200 | $301,110 | 0.73% | D |
| 4BR | $2,510 | $380,281 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 60096, located in Winthrop Harbor, IL, has a population of 6,527 residents. Only 12.8% of these residents are renters, indicating that this area is predominantly homeowner-dominated rather than renter-heavy. This means that the demand for rental properties using Section 8 vouchers will be relatively low compared to areas with higher percentages of renters.
The median household income in this ZIP code stands at $95,601, which provides context for evaluating the affordability of housing. The typical market rent of $1,313 represents approximately 14% of the median household income. However, when comparing this figure to the Fair Market Rent (FMR) of $1,500 for FY 2024, it becomes evident that the current market rent is below the FMR, suggesting that there is room for potential rent increases without immediately pricing out the majority of tenants.
Given the income levels and the current market rent, landlords can expect tenants who are likely to be financially stable and able to afford modestly priced rentals without relying heavily on Section 8 vouchers. While some tenants may still use vouchers, the overall voucher utilization rate is expected to be lower due to the higher median income and the relatively low percentage of renters in the area.
To summarize, landlords in ZIP 60096 should anticipate a tenant pool that is less dependent on Section 8 vouchers and more capable of paying market rents that align closely with the FMR. This environment supports the idea that properties in this area can command slightly higher rents while still being accessible to a broad range of tenants.
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.