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 | $1,940 |
| 1 Bedroom | $2,050 |
| 2 Bedrooms | $2,320 |
| 3 Bedrooms | $2,980 |
| 4 Bedrooms | $3,410 |
| 5 Bedrooms | $3,956 |
| 6 Bedrooms | $4,431 |
| 7 Bedrooms | $4,785 |
| 8 Bedrooms | $5,024 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,320 | $273,088 | 0.85% | C |
| 3BR | $2,980 | $382,666 | 0.78% | D |
| 4BR | $3,410 | $488,548 | 0.7% | D |
| 5BR | $3,956 | $617,532 | 0.64% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 60191, Wood Dale, IL, reveals a favorable environment for cash flow. The HUD Fair Market Rent (FMR) for the area is set at $1960 for fiscal year 2024, while the Census ACS reports the average market rent at $1677. This means that landlords participating in the Section 8 program can expect to cash flow comfortably, as the voucher amount exceeds the typical market rent.
To further understand the investment potential, consider the median home value in the area, which stands at $353,013. Using this figure, we can calculate a rent-to-price ratio. Dividing the HUD FMR by the median home value gives us approximately 0.55%, indicating that rental income is relatively low compared to the cost of homeownership. However, this also suggests that the rental market is stable and less likely to be affected by fluctuations in the housing market.
The data shows an N/A-day median Days on Market (DOM) and a 0.1% share of homes making price cuts. These figures imply that the housing market in Wood Dale is highly stable, with little need for sellers to adjust their asking prices. In such a stable market, the predictability of rental income becomes a significant advantage for investors.
The strongest angle for Section 8 investors in this area is cash flow. With the HUD FMR well above the average market rent, landlords can secure steady income without relying on premium units. This makes Wood Dale an attractive location for those prioritizing consistent, positive cash flow over short-term capital appreciation.
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.