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 | $2,200 |
| 1 Bedroom | $2,340 |
| 2 Bedrooms | $2,640 |
| 3 Bedrooms | $3,400 |
| 4 Bedrooms | $3,880 |
| 5 Bedrooms | $4,501 |
| 6 Bedrooms | $5,041 |
| 7 Bedrooms | $5,444 |
| 8 Bedrooms | $5,716 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,340 | $173,376 | 1.35% | A |
| 2BR | $2,640 | $280,609 | 0.94% | C |
| 3BR | $3,400 | $408,511 | 0.83% | C |
| 4BR | $3,880 | $561,594 | 0.69% | D |
| 5BR | $4,501 | $654,600 | 0.69% | D |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 60193, Schaumburg, IL, presents a favorable environment for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $2160 for the fiscal year 2024. In contrast, the market rent, measured by Zillow's ZORI index, stands at $1989. This indicates that voucher tenants can generally cashflow at the HUD FMR, with a slight positive margin, making it a profitable option for landlords.
To further analyze the investment potential, consider the median home value in the area, which is $362,667. By comparing this figure to the market rent, we derive a rent-to-price ratio that highlights the affordability of renting versus buying. For instance, an annual rent of $23,868 ($1989 per month) represents approximately 6.6% of the median home value. This suggests that renting remains considerably cheaper than owning, which could influence the local rental market dynamics.
The 10-day median Days on Market (DOM) and the 0.2% share of listings that required a price cut indicate a strong rental market where properties are quickly occupied and demand is high. These metrics point to a stable and healthy rental environment, reducing the risk of vacancy and ensuring steady cash flow.
In summary, the strongest angle for Section 8 investors in ZIP 60193 is cash flow. Given the favorable comparison between HUD FMR and market rent, combined with the quick turnover and minimal need for price adjustments, landlords can expect reliable income from voucher tenants without significant financial strain.
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.