Section 8 Fair Market Rent (FMR) for ZIP 60172 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 60172

• Chicago Housing Authority (Chicago, IL) - 61,049 Section 8 vouchers
• Housing Authority Cook County (Chicago, IL) - 14,142 Section 8 vouchers
• DuPage Housing Authority (Wheaton, IL) - 3,360 Section 8 vouchers
• Housing Authority of the Village of Oak Park (Oak Park, IL) - 546 Section 8 vouchers
• Housing Authority of the Town of Cicero (Cicero, IL) - 239 Section 8 vouchers
• Illinois Housing Development Authority (Chicago, IL) - 235 Section 8 vouchers
• Housing Authority of Park Forest (Park Forest, IL) - 181 Section 8 vouchers

The ZIP code 60172, located in Roselle, Illinois, is a suburban area that offers a blend of residential comfort and accessibility to urban amenities. It's a region where the housing market dynamics are influenced by both the local economy and broader trends in the Chicago metropolitan area.

• The Fair Market Rent (FMR) for ZIP 60172 in fiscal year 2024 is set at $2,060. This figure represents the maximum amount that a low-income household should pay in rent, ensuring affordability for those eligible for assistance.
• The market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $2,318. This metric reflects the average rent paid by tenants in the area, giving investors a clear picture of current rental rates.
• The median home value in the area is $374,397. This suggests a moderate to upper-middle-class neighborhood where property values are stable but not exceptionally high.
• Renters make up 20.5% of the housing market in Roselle, indicating a significant but not overwhelming demand for rental properties.
• The median income for residents in ZIP 60172 is $110,750. This level of income supports a robust rental market and can lead to higher tenant retention and on-time payments.
• Unfortunately, the exact days on market (DOM) for rental listings in Roselle is not available, which could be indicative of either a well-balanced market or limited data.

In summary, Roselle presents a balanced investment opportunity for landlords and small-portfolio investors. The area benefits from a strong median income that supports rental demand, yet the renter share is moderate, suggesting a mix of homeowners and renters. With the Fair Market Rent below the market rent, there is a clear gap that could be leveraged for affordable housing investments. However, the lack of precise days on market data might require additional research to fully understand the speed at which rental units are typically filled. Overall, the combination of stable property values and a solid rental rate makes ZIP 60172 a viable option for those looking to invest in a steady suburban market.

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.