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 | $1,560 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,400 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,870 | $203,093 | 0.92% | C |
| 3BR | $2,400 | $233,589 | 1.03% | B |
U.S. Census Bureau data (2024)
To integrate ZIP 60456 into a Section 8 portfolio strategy, consider it primarily as a cash-flow anchor. This classification is based on the significant disparity between the Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) and the local market rental rates.
The HUD's Fair Market Rent for ZIP 60456 in fiscal year 2024 is $1660. In contrast, the current market rental rate stands at $678, indicating a substantial spread that benefits landlords participating in the Section 8 program. By anchoring your portfolio in areas with such favorable FMR rates, you ensure steady cash flow that surpasses local market conditions, thereby providing financial stability.
Furthermore, the median home value in ZIP 60456 is $205,859, which is relatively low compared to other metropolitan areas. This makes it easier to acquire properties at a lower cost, enhancing the potential for positive cash flow once they are rented out under the Section 8 program.
While ZIP 60456 offers opportunities for appreciation, the data does not provide specific percentages for price-cut shares or days on market (DOM), making it difficult to quantify these potential gains. Therefore, focusing on cash flow as the primary benefit is more prudent given the available information.
The area also serves as a diversifier due to its 25.6% renter share and median income of $61,101. These factors suggest a stable tenant population who can afford the rents set by the Section 8 program. Diversifying your portfolio with properties in areas where tenants are likely to remain consistent reduces risk and enhances overall portfolio performance.
In summary, ZIP 60456 should be viewed as a cash-flow anchor within a Section 8 portfolio strategy, thanks to the high FMR relative to market rates. Additionally, its role as a diversifier is supported by a moderate renter share and median income levels that align well with the requirements of the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.