Location: Kendall County, IL | Metro: Kendall County, 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 | $1,660 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,770 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,770 | $363,466 | 0.76% | D |
| 4BR | $3,000 | $549,132 | 0.55% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 60512 in fiscal year 2024 is set at $1630. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is also known as the Housing Choice Voucher program. It's important to note that this is not necessarily the rent you will receive; it's the payment standard used by the program.
To put this into perspective, the FMR of $1630 is the benchmark for the area. While there isn't specific data on the average market rent for ZIP 60512, we can use the FMR to gauge what tenants might be able to afford with their vouchers. The FMR does not reflect the actual rent you'll get from your tenant; they pay a portion based on their income, typically around 30%, and the government covers the rest up to the FMR limit.
The renter share in this area is 5.7%. This indicates the proportion of households that are renters and potentially eligible for the Section 8 program. With an FMR of $1630 and a 5.7% share, the demand for affordable housing is significant but needs to be balanced against the number of available vouchers. For a property valued at $387,138, this represents the typical acquisition cost for a home in this ZIP code. When considering a Section 8 rental, ensure the property meets the minimum standards set by the program, such as being structurally sound and free from health hazards. This verification is crucial before committing to the program.
Section 8 rentals offer a stable source of income due to the government subsidy, but landlords must comply with regular inspections and maintenance requirements. The FMR helps set expectations for what you can charge and ensures that the rent is fair for both you and the tenant. Remember, the FMR is the ceiling, and you should adjust your rent based on the tenant's voucher and income level.
In summary, if you're looking to enter the Section 8 rental market in ZIP 60512, you can expect to receive a maximum of $1630 per month for a qualified property. The demand is present, given the 5.7% renter share, and the typical acquisition cost of $387,138 provides a baseline for investment value. Before finalizing your decision, make sure your property meets the necessary standards for the program.
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.