Location: DeKalb County, 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 | $1,790 |
| 1 Bedroom | $1,910 |
| 2 Bedrooms | $2,240 |
| 3 Bedrooms | $2,930 |
| 4 Bedrooms | $3,350 |
| 5 Bedrooms | $3,886 |
| 6 Bedrooms | $4,352 |
| 7 Bedrooms | $4,700 |
| 8 Bedrooms | $4,935 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,930 | $400,563 | 0.73% | D |
| 4BR | $3,350 | $443,719 | 0.75% | D |
U.S. Census Bureau data (2024)
The ZIP code 60151 stands out within its county due to a unique blend of demographic and economic factors. With a population of 3,888 residents, it has a rental rate of 17.1%, indicating that nearly one in every six homes is rented. The median income here is $117,450, which is notably higher than the national average. Additionally, the median home value of $404,893 reflects a stable and affluent residential area.
Moving into the specifics of Section 8 economics, the Fair Market Rent (FMR) for ZIP 60151 in fiscal year 2024 is set at $2,060. This is significantly above the market rent of $1,684, as reported by the Census Bureau's American Community Survey (ACS). Landlords who accept Section 8 vouchers can expect to receive higher rents compared to the local market average, making it an attractive option despite the administrative overhead.
The data signature for ZIP 60151 reads as stable. High median incomes and home values suggest a consistent demand for housing, both owned and rented. The gap between FMR and market rent indicates that there is a financial incentive for landlords to participate in the Section 8 program, ensuring a steady stream of tenants. Given these conditions, landlords and small-portfolio investors can confidently engage with the Section 8 market knowing that their properties will likely maintain or increase in value over time.
Landlords should consider the following:
In conclusion, ZIP 60151 offers a stable environment for landlords and investors, with a solid foundation of high-income residents and valuable properties. The favorable economics of Section 8 vouchers make this ZIP code particularly appealing for those looking to secure long-term, reliable 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.