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 | $1,690 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,600 |
| 4 Bedrooms | $2,970 |
| 5 Bedrooms | $3,445 |
| 6 Bedrooms | $3,858 |
| 7 Bedrooms | $4,167 |
| 8 Bedrooms | $4,375 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,020 | $105,335 | 1.92% | A+ |
| 3BR | $2,600 | $161,177 | 1.61% | A+ |
| 4BR | $2,970 | $190,701 | 1.56% | A+ |
| 5BR | $3,445 | $206,125 | 1.67% | A+ |
U.S. Census Bureau data (2024)
ZIP code 60419, located in Dolton, IL, falls within the broader Chicago-Joliet-Naperville, IL HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 60419 is set at $1910 for fiscal year 2024, which is lower than the typical market rent of $2,091 observed in this area. This indicates that the rental prices in Dolton are somewhat subsidized compared to the general market rates, making it an attractive option for those seeking affordable housing.
The median home value in Dolton is $150,059, which is notably lower than the average home value in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area. This suggests that ZIP 60419 could be considered a value pocket within the larger metropolitan region, offering real estate at a fraction of the cost seen in more central or affluent parts of the metro.
A significant 27.4% of residents in Dolton are renters, a figure that aligns with the higher-than-average renter share typically found in value pockets. This high proportion of renters, combined with the relatively low home values and subsidized rents, points to a strong presence of Section 8 housing in the area. Landlords and small-portfolio investors should consider Dolton as a prime location for properties eligible for Section 8 subsidies, given the demand and affordability characteristics.
In summary, ZIP 60419 represents a value pocket within the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, distinguished by its lower FMR, market rent, and home values, along with a substantial renter population. These factors create a favorable environment for those interested in Section 8 properties.
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.