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 | $1,280 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,530 | $238,067 | 0.64% | D |
| 3BR | $1,970 | $293,371 | 0.67% | D |
| 4BR | $2,250 | $339,080 | 0.66% | D |
U.S. Census Bureau data (2024)
The Lyons, IL area, zip code 60534, is a suburban community located in Will County, offering residents a blend of rural charm and urban convenience. Situated near Chicago, it benefits from being part of a larger metropolitan area while maintaining its own distinct character. This analysis provides insights into the real estate market dynamics, focusing on key metrics that are crucial for landlords and small-portfolio investors.
The data points highlight a real estate market in Lyons, IL that offers both opportunities and challenges for investors. With the FMR exceeding the market rent, there is potential for rental properties to command higher prices, especially if they meet or exceed quality standards. The median home value indicates that the area is moderately priced, which can be advantageous for those looking to invest in multifamily units. A substantial portion of the population renting suggests ongoing demand for rental properties, but also competition. The median income level supports the likelihood of finding financially stable tenants, making the area attractive for those seeking consistent rental income. Overall, Lyons, IL presents a balanced investment environment with room for strategic growth in the rental sector.
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.