Location: Lee County, IL | Metro: DeKalb 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 | $860 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,650 | $228,202 | 0.72% | D |
U.S. Census Bureau data (2024)
The ZIP code 60518 stands out in its county with a population of 3,289 residents, where 33.0% of the inhabitants rent their homes. The median income for this area is $69,980, indicating a middle-class community. Notably, the median home value in ZIP 60518 is $240,970, reflecting a stable housing market.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 60518 for fiscal year 2024 is set at $1,200, which is higher than the market rate of $1,003 according to the latest Census American Community Survey (ACS) data. This suggests that landlords participating in the Section 8 program can expect slightly above-market rents, making it a potentially attractive option for property owners in this area.
The data signature for ZIP 60518 reads as stable, with a moderate rental percentage and a median income that supports the median home value. The slight premium offered by the FMR over the market rate further reinforces the stability of the housing market in this ZIP code, ensuring steady cash flow for landlords and small-portfolio investors.
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.