Location: Chicago-Joliet-Naperville, IL | Metro: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,300 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 60144 reveals a market that offers moderate potential for both yield and stability, making it an attractive option for landlords and small-portfolio investors looking for a balance between the two.
Starting with yield, the Fair Market Rent (FMR) for the area stands at $1570 for fiscal year 2024, which is slightly higher than the current market rent of $1550. This indicates that properties in this ZIP code can command rents above the average market rate, offering a modest edge in rental income. However, the lack of data on home values suggests that capital appreciation might be less predictable compared to other markets where such information is available.
Moving on to stability, the ZIP code shows a substantial portion of its population as renters, with 31.0% of residents living in rented accommodations. While this percentage is significant, it does not necessarily indicate instability; rather, it points towards a stable demand for rental properties. The absence of data on days on market (DOM) could imply either consistent occupancy rates or a lack of turnover, but without concrete figures, we cannot make a definitive call. Additionally, the median household income of $59,250 provides a solid foundation for rental payments, suggesting that tenants have the financial means to cover their rent consistently.
Based on these figures, ZIP 60144 does not fit the profile of a high-yield/low-stability flip-style market. Instead, it leans more towards being a steady-cashflow zone, given the slight premium in FMR over market rent and the strong tenant income base. The relatively high percentage of renters ensures a stable demand for rental properties, while the income figure supports the likelihood of timely rent payments.
Data Sources: FMR data from HUD (2027). 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.