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 | $1,150 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,220 | $173,688 | 0.7% | D |
| 2BR | $1,380 | $497,836 | 0.28% | F |
| 3BR | $1,770 | $749,598 | 0.24% | F |
| 4BR | $2,030 | $1,184,584 | 0.17% | F |
| 5BR | $2,355 | $1,758,659 | 0.13% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 60523, Oak Brook, IL, reveals a market with strong pricing power over the next 12-24 months. The median home value stands at a robust $980,853, indicating a high-end residential area where homes are valued significantly above the national average. This high valuation is further supported by the minimal reduction in listing prices, with only 0.2% of listings being reduced. Such a low percentage signals that sellers are maintaining their prices, reflecting confidence in the local housing demand.
The median days on market (DOM) being listed as N/A suggests either very quick sales or a small sample size, but given the context of the other data points, it's reasonable to infer that homes in Oak Brook are selling swiftly. Rapid sales combined with stable or increasing prices imply strong buyer interest and limited inventory, which supports the notion of continued pricing power. Landlords and small-portfolio investors can expect to maintain or even slightly increase rental rates without losing tenants due to the high cost of homeownership.
On the rental side, the Federal Market Rent (FMR) for ZIP 60523 in fiscal year 2024 is set at $1,050, while the current market rate based on Census American Community Survey (ACS) data is $854. This discrepancy indicates an opportunity for landlords to gradually increase rents towards the FMR level without significantly deterring potential renters. The gap between FMR and market rates also suggests that rental properties are undervalued relative to their potential income-generating capacity.
For long-term investors, the appreciation thesis in Oak Brook is grounded in the strong fundamentals of the area. The high median home value and the scarcity of price reductions suggest a resilient market that is likely to sustain its value. Over time, the steady increase in rental rates toward the FMR could contribute to capital appreciation, as property values often follow rental trends. However, the lack of significant growth in median home values or substantial changes in the DOM figure implies that rapid appreciation is not guaranteed. Instead, the setup suggests a stable, albeit slowly appreciating market, making Oak Brook a reliable investment choice for those seeking long-term portfolio growth.
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.