Section 8 Fair Market Rent (FMR) for ZIP 60536 - 2027

Location: Kendall County, IL | Metro: Kendall County, IL HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,280
1 Bedroom	$1,410
2 Bedrooms	$1,850
3 Bedrooms	$2,540
4 Bedrooms	$2,630
5 Bedrooms	$3,051
6 Bedrooms	$3,417
7 Bedrooms	$3,690
8 Bedrooms	$3,875

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$115,625

Housing Units

Renter Percentage

3.7%

Occupancy Rate

87.1%

Renter Occupied

The town of Wheeling, Illinois, located in ZIP code 60536, is a suburban gem characterized by its high quality of life and proximity to Chicago. Known for its excellent schools, vibrant community events, and picturesque landscapes, it attracts a diverse mix of residents, including young families and professionals.

Fair Market Rent (FMR) for a 2-bedroom apartment: The Fair Market Rent for a 2-bedroom apartment in ZIP code 60536 for fiscal year 2024 is set at $1,300. This figure reflects the average rent price that HUD determines for rental units in the area.
Renter Share: Only 3.7% of the population in Wheeling identifies as renters, indicating a predominantly homeowner-focused community. This low percentage suggests that rental properties may face stiff competition for tenants.
Median Income: The median household income in ZIP code 60536 is $115,625, which is significantly higher than the national average. This robust economic base supports a strong demand for housing, both for sale and for rent.
Days on Market (DOM): While specific data for the days on market for rental properties is not available, the high median income and strong local economy suggest that rental listings are likely to attract interest quickly.
Median Home Value: Data on the median home value is currently unavailable, but given the affluent nature of the area, it is reasonable to assume that home values are quite high, potentially limiting the number of affordable rental properties.

In summary, while the Fair Market Rent provides a benchmark for pricing rental units, the low renter share indicates that rental opportunities might be limited. However, the high median income of the area suggests that there is a solid financial foundation supporting housing demand. Landlords and small-portfolio investors should focus on offering competitive rents and maintaining high-quality properties to succeed in this market. Despite the challenges, the potential for stable and profitable investments remains strong due to the overall economic health of Wheeling, Illinois.

Data Sources: FMR data from HUD (2027). 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.