Location: Chicago-Joliet-Naperville, IL | Metro: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,670 |
| 1 Bedroom | $1,770 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $2,940 |
| 5 Bedrooms | $3,410 |
| 6 Bedrooms | $3,819 |
| 7 Bedrooms | $4,125 |
| 8 Bedrooms | $4,331 |
The ZIP code 60434 in Joliet, IL, lacks specific demographic data such as resident count, rental percentages, median income, and median home values. This absence highlights the unique nature of the area, which may be due to its size or recent development status.
Moving to the voucher economics, the Fair Market Rent (FMR) for ZIP 60434 is set at $1700 for fiscal year 2024. Without precise market rent figures, it is difficult to compare the FMR directly to local rental rates. However, landlords and small-portfolio investors should note that the FMR provides a benchmark for rental subsidies in the area.
Given the lack of detailed census data, the ZIP 60434 area appears to be transitional. This could indicate ongoing changes in population dynamics, economic conditions, or housing stock. Investors should monitor local trends closely and consider the potential for growth or shifts in the rental market.
Data Sources: FMR data from HUD (2027).
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.