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 | $1,420 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $226,177 | 0.75% | D |
| 3BR | $2,190 | $269,840 | 0.81% | C |
| 4BR | $2,500 | $299,694 | 0.83% | C |
| 5BR | $2,900 | $323,975 | 0.9% | C |
U.S. Census Bureau data (2024)
The classification of ZIP code 60104 (Bellwood, IL) on the axes of yield and stability reveals a market that leans towards providing steady cash flow rather than being a high-yield/low-stability flip-style market. The key figures supporting this analysis are as follows:
Yield Analysis: The Fair Market Rent (FMR) for ZIP 60104 in fiscal year 2024 is set at $1,490, which is higher than the average market rent of $1,293. This indicates a favorable environment for rental properties, as the FMR can help ensure higher rents when compared to the market rate. Additionally, the median home value of $242,722 suggests a moderate investment cost, balancing the potential for good returns against the capital required.
Stability Analysis: Stability is assessed through the percentage of renters, the number of days on the market (DOM), and the median household income. With 21.6% of residents being renters, the demand for rental housing is relatively low, which could affect the occupancy rates. However, the median household income of $79,513 provides a stable economic base for tenants, likely ensuring they have the financial capacity to pay their rent consistently. The absence of data on the average days on market (DOM) does not provide insights into how quickly vacancies might be filled, but it does not necessarily indicate instability either.
Given these figures, ZIP 60104 appears to offer a moderate level of yield due to the FMR being above the market rent. However, the stability aspect is also moderate, with a relatively low percentage of renters and a strong median income. Therefore, this area is best classified as a steady-cashflow zone, suitable for landlords and small-portfolio investors looking for consistent returns without the risks associated with highly volatile markets.
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.