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 | $1,690 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,600 |
| 4 Bedrooms | $2,970 |
| 5 Bedrooms | $3,445 |
| 6 Bedrooms | $3,858 |
| 7 Bedrooms | $4,167 |
| 8 Bedrooms | $4,375 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,790 | $197,158 | 0.91% | C |
| 2BR | $2,020 | $262,889 | 0.77% | D |
| 3BR | $2,600 | $294,322 | 0.88% | C |
| 4BR | $2,970 | $425,998 | 0.7% | D |
| 5BR | $3,445 | $455,072 | 0.76% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 60110, Carpentersville, IL, reveals that voucher tenants can achieve marginal cash flow at the HUD Fair Market Rent (FMR) rate of $1800 for fiscal year 2024. The Zillow Observed Rent Index (ZORI), which measures actual market rents, stands at $2,187, indicating that landlords receiving the FMR will have a slight shortfall but can still manage with some cost efficiencies.
To understand the economic viability of rental properties in this area, consider the median home value of $284,248. This figure allows us to calculate the rent-to-price ratio, which is approximately 0.077 (or 7.7%). This ratio suggests that rental income is relatively low compared to property values, making cash flow a moderate challenge without premium unit optimizations.
The real estate market in Carpentersville shows a strong demand for rentals, evidenced by a 10-day median Days on Market (DOM) and a negligible 0.1% share of listings that require price cuts. These metrics indicate that the rental market is robust and that homes are quickly occupied, reducing the risk of vacancy and ensuring steady income streams.
In conclusion, the strongest angle for Section 8 investors in ZIP 60110 is stability. With a quick turnover rate and minimal need for price adjustments, investors can expect consistent occupancy and reliable cash flows, even if they operate with a slight margin above the FMR.
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.