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 | $1,290 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,550 | $257,580 | 0.6% | D |
| 3BR | $1,990 | $295,564 | 0.67% | D |
| 4BR | $2,280 | $331,821 | 0.69% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP code 60155 (Broadview, IL) does not work favorably for Section 8 landlords. The Fair Market Rent (FMR) set at $1,420 for fiscal year 2024 is higher than the market rent, which stands at $1,280 (ZORI). This indicates that landlords participating in the Section 8 program could potentially receive above-average rental income in this area.
Regarding acquisition affordability, the median home value in Broadview is $265,399. However, due to the lack of data on days on market (DOM) and the percentage of homes that had their prices cut, it's challenging to assess the ease of acquiring properties at a reasonable cost. Landlords should conduct further research into recent real estate transactions to gauge current market conditions accurately.
Tenant demand in ZIP 60155 is strong, with a population of 7,906 and a significant 39.8% renter share. This high percentage of renters suggests a steady pool of potential tenants for Section 8 properties. Given the limited supply of housing options relative to the number of renters, landlords can expect consistent interest in their properties.
In summary, while the rent math leans positively towards Section 8 landlords with the FMR being higher than the market rent, the affordability of property acquisition remains uncertain without additional metrics. Despite this, the robust tenant demand makes Broadview an attractive location for those willing to navigate the complexities of purchasing real estate. Landlords should proceed with caution but remain optimistic about finding interested tenants among the substantial renter base.
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.