Section 8 Fair Market Rent (FMR) for ZIP 60208 - 2027

Location: Chicago-Joliet-Naperville, IL | Metro: Chicago-Joliet-Naperville, IL HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,190
1 Bedroom	$2,330
2 Bedrooms	$2,630
3 Bedrooms	$3,380
4 Bedrooms	$3,860
5 Bedrooms	$4,478
6 Bedrooms	$5,015
7 Bedrooms	$5,416
8 Bedrooms	$5,687

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

255

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

N/A

Renter Occupied

The ZIP code 60208, located in Illinois, is part of a suburban area that benefits from proximity to Chicago while offering a quieter, more residential lifestyle. This region is characterized by a mix of single-family homes and some multifamily units, catering to both homeowners and renters.

The Fair Market Rent (FMR) for ZIP 60208 in fiscal year 2024 is set at $1680, providing a benchmark for rental pricing in the area.
The median home value in the area is currently listed as N/A, indicating a lack of recent comprehensive data on property values.
Renters make up N/A% of the population, suggesting a significant portion of residents prefer leasing over owning their homes.
The average Days on Market (DOM) for properties in this ZIP code is N/A days, which reflects the speed at which homes are typically sold.
The median income in ZIP 60208 is N/A, giving insight into the economic profile of the residents and their potential ability to pay higher rents.

For landlords and small-portfolio investors, the Fair Market Rent figure of $1680 offers a clear guideline for setting competitive rental rates. The absence of recent data on median home values and the percentage of renters suggests a need for further research to understand the local housing dynamics fully. However, the low DOM indicates a robust market where homes sell quickly, potentially leading to high demand for rental properties as well. With a strong economic base indicated by the median income, tenants should have the means to afford rents close to the FMR. In summary, the area presents a stable investment opportunity with solid rental income potential, but investors should conduct thorough due diligence to fill in the gaps left by missing data points.

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.