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 | $1,770 |
| 1 Bedroom | $1,880 |
| 2 Bedrooms | $2,120 |
| 3 Bedrooms | $2,730 |
| 4 Bedrooms | $3,110 |
| 5 Bedrooms | $3,608 |
| 6 Bedrooms | $4,041 |
| 7 Bedrooms | $4,364 |
| 8 Bedrooms | $4,582 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,120 | $370,511 | 0.57% | F |
| 3BR | $2,730 | $414,258 | 0.66% | D |
| 4BR | $3,110 | $511,554 | 0.61% | D |
| 5BR | $3,608 | $572,072 | 0.63% | D |
U.S. Census Bureau data (2024)
The ZIP code 60142, located in Huntley, IL, has a population of 29,692 residents, with only 10.7% being renters. This indicates that Huntley is predominantly a homeowner-dominated area rather than a renter-heavy ZIP. The median household income in Huntley is $89,735, which contrasts sharply with the market rent of $2,823 per month. To put this into perspective, the average rent consumes approximately 35.2% of the median monthly income, calculated from the annual median income divided by 12 months.
Comparing the market rent to the Fair Market Rent (FMR) set at $2,090 for FY 2024, it's evident that the market rent in Huntley exceeds the FMR by $733. This discrepancy suggests that tenants relying on housing vouchers might find it challenging to cover the entire rent amount without additional contributions. The higher market rent could also imply a scarcity of vouchers relative to the demand, making it less favorable for voucher holders.
A landlord in Huntley should anticipate a tenant pool that primarily consists of individuals or families who are financially stable and can afford higher rents without assistance. While some voucher holders may still be present, they would likely need to supplement their voucher with personal funds to meet the market rates. Therefore, landlords should focus on attracting tenants who have sufficient income to cover the full rent amount, emphasizing the quality and value of their properties over the potential for voucher-assisted tenancy.
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.