Location: Kendall County, 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 | $1,540 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,610 |
| 4 Bedrooms | $2,940 |
| 5 Bedrooms | $3,410 |
| 6 Bedrooms | $3,819 |
| 7 Bedrooms | $4,125 |
| 8 Bedrooms | $4,331 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,610 | $397,037 | 0.66% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 60511 in fiscal year 2024 is set at $1630. This figure represents the payment standard for Section 8 housing assistance in the area, meaning it's the maximum amount the government will pay on behalf of eligible tenants. It's important to note that this isn't necessarily the rent you'll collect; it's the benchmark used to determine the subsidy.
To put this into context, the average rent in ZIP 60511 is $1,653 according to the latest Census American Community Survey (ACS) data. This suggests that the FMR is slightly below the market rate, which could mean that while your property might be attractive to Section 8 participants, you may need to adjust your expectations regarding rental income.
The 6.6% renter share indicates that nearly 7 out of every 100 households in ZIP 60511 are renters. This statistic points to a moderate level of rental demand, suggesting that there is a reasonable pool of potential tenants who could benefit from Section 8 assistance. However, the competition for these tenants may also be moderate, depending on the number of available units.
If you're looking to acquire a property in this ZIP code, the median home value is approximately $408,029. This gives you an idea of the investment required to enter the market. When considering whether to pursue a Section 8 rental, you must ensure that your property meets the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD).
Before proceeding with a Section 8 rental, verify that your property complies with HQS. This includes ensuring that your home is safe, decent, and sanitary. HUD provides a detailed checklist that covers various aspects such as structural integrity, heating, plumbing, and electrical systems. Meeting these standards is non-negotiable and ensures that you can receive the full subsidy payment.
In summary, the FMR of $1630 in ZIP 60511 sets the upper limit for government subsidies, slightly below the local average rent of $1,653. With a renter share of 6.6%, you can expect moderate demand, but the median home value of $408,029 means significant upfront costs. Ensure your property meets HQS to qualify for the program and secure your investment.
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.