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 | $1,550 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,730 |
| 5 Bedrooms | $3,167 |
| 6 Bedrooms | $3,547 |
| 7 Bedrooms | $3,831 |
| 8 Bedrooms | $4,023 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,860 | $211,994 | 0.88% | C |
| 3BR | $2,390 | $246,492 | 0.97% | C |
| 4BR | $2,730 | $283,830 | 0.96% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 60436 in Rockdale, Illinois, for fiscal year 2024 is set at $1630. This figure represents the payment standard for Section 8 vouchers, meaning that the maximum subsidy a tenant can receive will be based on this amount. It's important to note that this is not the rent you'll charge your tenants; it's the maximum reimbursement you'll receive from the government.
To put this into perspective, the local Zillow Observed Rent Index (ZORI) for the same area is $1,763. This suggests that the market rent in Rockdale slightly exceeds the FMR, indicating that landlords participating in the Section 8 program might need to adjust their expectations regarding rental income. However, the demand for rentals is strong, with 41.7% of the population being renters, ensuring a steady pool of potential tenants.
If you're considering purchasing a property for your first Section 8 rental, the median home value in Rockdale is approximately $220,027. This figure gives you an idea of the acquisition cost for a typical home in the area. While this investment can provide long-term stability through the Section 8 program, it's crucial to understand that the initial purchase price is higher than the FMR would suggest.
Before committing to a Section 8 rental in ZIP 60436, ensure that the property meets all local housing quality standards, known as Housing Quality Standards (HQS). These standards cover a range of issues including safety, cleanliness, and functionality. The U.S. Department of Housing and Urban Development (HUD) requires that all Section 8 properties pass an inspection to meet these criteria, which can affect the overall maintenance costs and time required to prepare the property for tenancy.
In summary, the FMR of $1630 sets the reimbursement limit for Section 8 participants, while the local ZORI of $1,763 reflects the current market rent. With 41.7% of residents renting, there is a significant demand for affordable housing. The median home value of $220,027 indicates the typical acquisition cost for a property. To proceed, verify that the property complies with HQS to avoid any issues with HUD inspections.
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.