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 | $1,990 |
| 1 Bedroom | $2,110 |
| 2 Bedrooms | $2,380 |
| 3 Bedrooms | $3,060 |
| 4 Bedrooms | $3,500 |
| 5 Bedrooms | $4,060 |
| 6 Bedrooms | $4,547 |
| 7 Bedrooms | $4,911 |
| 8 Bedrooms | $5,157 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,110 | $183,132 | 1.15% | B |
| 2BR | $2,380 | $250,402 | 0.95% | C |
| 3BR | $3,060 | $445,636 | 0.69% | D |
| 4BR | $3,500 | $670,932 | 0.52% | F |
| 5BR | $4,060 | $803,747 | 0.51% | F |
U.S. Census Bureau data (2024)
Lisle, IL, with a ZIP code of 60532, is a suburban neighborhood situated in DuPage County. The area boasts a population of 28,547 residents, with 43.5% of them being renters. This indicates a significant portion of the community is likely seeking affordable housing options. The median household income in Lisle stands at $102,085, which is notably high and suggests a prosperous environment where residents have disposable income beyond basic living expenses. Median home values are also impressive, sitting at $425,933, reflecting the desirability and quality of life in the region.
The economic landscape for rental properties in Lisle is favorable. The Fair Market Rent (FMR) for ZIP code 60532 in fiscal year 2024 is set at $2,090, while the actual market rent, as measured by Zillow's Observed Rental Index (ZORI), is $1,923. This discrepancy between FMR and market rent means that landlords participating in the Section 8 program can potentially charge higher rents compared to the local market average, thereby attracting tenants who may qualify for subsidies but prefer better quality accommodations.
Given these conditions, Lisle, IL, is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the robust subsidy rates ensure steady cash flow and manageable tenant turnover. Meanwhile, hands-on investors can leverage the high median income and property values to improve and upgrade units, increasing their rental income above the ZORI rate without exceeding the FMR limit. This presents an opportunity for those willing to invest in property enhancements to capture additional revenue and provide higher-quality living spaces to Section 8 participants.
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.