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 | $1,890 |
| 1 Bedroom | $2,000 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,910 |
| 4 Bedrooms | $3,320 |
| 5 Bedrooms | $3,851 |
| 6 Bedrooms | $4,313 |
| 7 Bedrooms | $4,658 |
| 8 Bedrooms | $4,891 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,000 | $190,972 | 1.05% | B |
| 2BR | $2,260 | $285,213 | 0.79% | D |
| 3BR | $2,910 | $376,275 | 0.77% | D |
| 4BR | $3,320 | $447,644 | 0.74% | D |
| 5BR | $3,851 | $527,637 | 0.73% | D |
U.S. Census Bureau data (2024)
13-day DOM indicates that properties in Villa Park, IL are moving quickly off the market, suggesting strong demand among potential tenants. 28.8% renter share shows that nearly three out of ten residents are renters, highlighting a significant portion of the population that could be interested in your rental offerings. The $1880 Fair Market Rent (FMR) for Section 8 in zip code 60181 for fiscal year 2024 is notably lower than the $2,096 market rent (ZORI), which means that landlords participating in the Section 8 program will receive less than the average market rate but still have a reliable source of income. However, the $358,470 median home value suggests that the area is quite affluent, with a $92,142 median income supporting higher-end rentals and homes. Despite these favorable conditions, only 0.2% of listings experience a price cut, indicating that most properties are priced competitively and attract tenants without needing adjustments. This combination of factors makes Villa Park an attractive location for landlords who wish to participate in the Section 8 program, as they can expect steady demand and a reasonable level of competition. The low price-cut share also implies that once a property is listed at a fair price, it is likely to find a tenant promptly, reducing vacancy periods and increasing cash flow predictability. Given the affluent nature of the area and the relatively quick turnover of properties, landlords should consider the benefits of the Section 8 program carefully, balancing the slightly lower rents against the security of government-backed payments and the ease of finding tenants. Verdict: Villa Park, IL is a solid choice for landlords considering Section 8 participation.
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.