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 | $2,210 |
| 1 Bedroom | $2,350 |
| 2 Bedrooms | $2,650 |
| 3 Bedrooms | $3,410 |
| 4 Bedrooms | $3,890 |
| 5 Bedrooms | $4,512 |
| 6 Bedrooms | $5,053 |
| 7 Bedrooms | $5,457 |
| 8 Bedrooms | $5,730 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,650 | $293,835 | 0.9% | C |
| 3BR | $3,410 | $348,412 | 0.98% | C |
| 4BR | $3,890 | $495,894 | 0.78% | D |
| 5BR | $4,512 | $564,053 | 0.8% | D |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 properties in ZIP code 60136 in Gilberts, IL, include significant tenant turnover. The market rent for the area is $1,747, which is notably lower than the Fair Market Rent (FMR) of $2,210 for FY 2024. This discrepancy can lead to higher turnover rates as tenants may prefer to move to areas where they can secure more affordable housing through vouchers. Additionally, the vacancy exposure is concerning due to the lack of data on days on market (DOM), indicating that it might be challenging to predict how quickly a property will fill once it becomes vacant.
Deferred maintenance is another risk factor. With a typical home value of $408,970 and a median income of $147,704, there is a substantial gap between the cost of maintaining properties and the financial capacity of the average resident. This suggests that landlords may face increased costs for upkeep and repairs, as tenants may not have the resources to contribute to these expenses. However, the 7.1% renter share in the area points towards a relatively high concentration of renters, which typically translates into higher demand for rental properties, including those that accept Section 8 vouchers.
Despite the risks, the high renter density and the likelihood of strong voucher demand make the area attractive for landlords willing to manage the challenges associated with Section 8 tenancy. The combination of a competitive market rent and a higher FMR indicates that landlords can potentially benefit from the difference, although they must be prepared for the operational complexities.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.