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 | $1,480 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,610 |
| 5 Bedrooms | $3,028 |
| 6 Bedrooms | $3,391 |
| 7 Bedrooms | $3,662 |
| 8 Bedrooms | $3,845 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,290 | $402,832 | 0.57% | F |
U.S. Census Bureau data (2024)
ZIP code 60180 is situated within the Chicago-Joliet-Naperville, IL HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 is set at $1,690. This figure closely aligns with the market rent of $1,712, indicating that rental properties here are priced near HUD guidelines. The median home value in 60180 is $408,306, which is reflective of a mid-tier neighborhood within the broader metro area.
The renter share of 21.4% is slightly above the national average but is notably lower than some denser urban areas within the same metro region. This suggests that while there is a decent number of renters, the area also has a significant population of homeowners, contributing to a balanced market dynamic.
When comparing 60180 to other ZIP codes within the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, it stands out as neither a premium sub-market nor a value pocket. Premium sub-markets typically have higher home values and market rents, whereas value pockets often feature lower rents and home values. Instead, 60180 represents a middle ground, offering moderate home values and rents that are in line with HUD's FMR.
A noteworthy aspect is the relationship between the renter share and home values. While the renter share is relatively high, the home values are also on the higher side compared to some other ZIPs with similar renter shares. This combination does not necessarily signal a Section 8 sweet spot, as a true sweet spot would likely have both high renter share and below-average home values. However, the proximity of market rent to FMR does make it a viable option for landlords participating in the Section 8 program.
In summary, ZIP 60180 is a mid-tier neighborhood within the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, characterized by moderate home values and market rents that align well with HUD's FMR guidelines. It offers a balanced mix of renters and homeowners, making it a stable investment opportunity for landlords and small-portfolio investors.
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.