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 | $1,610 |
| 1 Bedroom | $1,710 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,830 |
| 5 Bedrooms | $3,283 |
| 6 Bedrooms | $3,677 |
| 7 Bedrooms | $3,971 |
| 8 Bedrooms | $4,170 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,710 | $154,314 | 1.11% | B |
| 2BR | $1,930 | $262,681 | 0.73% | D |
| 3BR | $2,480 | $375,471 | 0.66% | D |
| 4BR | $2,830 | $461,560 | 0.61% | D |
| 5BR | $3,283 | $503,689 | 0.65% | D |
U.S. Census Bureau data (2024)
1650 is the Fair Market Rent (FMR) for ZIP 60106, Bensenville, IL, as set for fiscal year 2024. 1796 represents the Zillow Observed Rent Index (ZORI), indicating the actual market rent in the area. 343935 is the median home value, showing the typical cost of homeownership. With 46.7% of residents renting, it's clear that a significant portion of the population is looking for affordable housing options. The median income of 79456 suggests that many households may struggle to meet the market rent without assistance. Despite these conditions, the 0.2% price-cut share indicates that rental properties are generally well-priced and not often discounted, which could be seen as a positive sign for landlords maintaining their rates. However, the lack of available data on days on market (DOM) means there's an uncertainty about how quickly properties are being rented out. Given the high renter share and relatively low median income compared to market rents, Section 8 participation can be a stable source of income for landlords. The verdict for Section 8 in ZIP 60106 is positive, offering a reliable tenant pool in a market where affordability is a concern.
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.