Section 8 Fair Market Rent (FMR) for ZIP 60103 - 2027

Investment Score for ZIP 60103

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,080
1 Bedroom	$2,200
2 Bedrooms	$2,490
3 Bedrooms	$3,200
4 Bedrooms	$3,660
5 Bedrooms	$4,246
6 Bedrooms	$4,756
7 Bedrooms	$5,136
8 Bedrooms	$5,393

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,490	$321,084	0.78%	D
3BR	$3,200	$405,894	0.79%	D
4BR	$3,660	$527,784	0.69%	D
5BR	$4,246	$620,468	0.68%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 60103 (Bartlett, IL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 60103, as set by HUD for 2026, indicate that a two-bedroom unit should rent for $2,290. However, the actual rental market in Bartlett is significantly higher. The Zillow median price for a two-bedroom home is $310,287, which translates to a monthly rent of approximately $1,292.61 if we assume a typical mortgage payment based on a 4.5% interest rate over 30 years. This means the actual rental market is about 11.3 times the FMR, making it extremely challenging for Section 8 voucher holders to find affordable housing. The FMR for a three-bedroom unit is $2,950, while the Zillow median suggests a much higher cost, further limiting options for families with larger units. Given the high actual rental costs compared to FMR, voucher holders face significant constraints. For instance, a family with a two-bedroom voucher would have to pay $310,287 / 12 = $25,857.25 per month in rent, far exceeding the $2,290 FMR limit. This disparity highlights the need for landlords to be willing to accept lower-than-market rents to accommodate Section 8 tenants, which is unlikely given the strong demand and limited supply in the area. #### Affordability & Renter Profile Bartlett has a population of 41,382, with only 10.7% being renters. The occupancy rate is very high at 97.7%, indicating a tight rental market. The median household income is $133,793, which is quite substantial. Despite this, the high cost of living makes it difficult for renters, especially those relying on Section 8 vouchers, to find suitable housing. A two-bedroom unit at the FMR level represents 20.5% of the median income, which is manageable but still a significant portion of a household’s budget. Given the actual rental prices, however, the situation becomes much more strained. A renter paying $25,857.25 per month would be spending nearly 230% of their median income, which is clearly unsustainable. This suggests that the market is oversupplied with high-cost rentals and undersupplied with affordable units, leading to a challenging environment for low-income renters. #### Investor Angle From an investor perspective, the ZIP code 60103 is not particularly attractive for cash flow when considering the FMR. The FMR for a two-bedroom unit is $2,290, whereas the actual rental market price is around $25,857.25 per month. This means that an investor would likely need to charge closer to the actual rental market price to achieve positive cash flow, rather than relying solely on the FMR. However, the investment grade can be considered high due to the strong demand and limited supply of rental properties. The high median household income and low percentage of renters suggest a robust local economy and potential for appreciation in property values. Investors who can offer competitive rents while maintaining profitability might find success in this market, but they must be prepared to deal with the challenges of finding tenants who can afford the high rents. #### Specific Actionable Insights 1. **Target Affordable Units**: Investors should focus on acquiring properties that can be rented at or near the FMR levels. This could include smaller units like one-bedroom apartments or studios, which are currently priced at $2,030 according to HUD's FMR. These units are more likely to attract Section 8 tenants and provide a sustainable cash flow. 2. **Consider Property Value Appreciation**: While the current rental market is not favorable for cash flow at FMR levels, the strong local economy and high median household income suggest that property values are likely to appreciate over time. Investors could consider a long-term strategy where they initially accept lower rents to attract Section 8 tenants, with the expectation that property values will increase, providing a return on investment through capital gains. 3. **Engage with Local Housing Authorities**: To better understand the dynamics of the Section 8 program in Bartlett, investors should engage with local housing authorities. They can provide insights into the number of available vouchers, the process for accepting voucher holders, and any incentives or subsidies that might be available to landlords who participate in the program. #### Bottom Line Given the high actual rental costs compared to the FMR and the tight rental market, the recommendation for Section 8-focused investors is to **Skip** this ZIP code. The disparity between the FMR and actual rental prices makes it extremely difficult to find properties that can be rented profitably at FMR levels. Additionally, the limited number of renters and high occupancy rates suggest that there is little room for maneuvering in terms of attracting tenants who rely on Section 8 vouchers. Investors looking to target this demographic would likely struggle to find suitable opportunities in Bartlett, IL.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.