Location: Kendall County, 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 | $2,250 |
| 1 Bedroom | $2,390 |
| 2 Bedrooms | $2,700 |
| 3 Bedrooms | $3,470 |
| 4 Bedrooms | $3,960 |
| 5 Bedrooms | $4,594 |
| 6 Bedrooms | $5,145 |
| 7 Bedrooms | $5,557 |
| 8 Bedrooms | $5,835 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,700 | $305,835 | 0.88% | C |
| 3BR | $3,470 | $360,043 | 0.96% | C |
| 4BR | $3,960 | $519,552 | 0.76% | D |
| 5BR | $4,594 | $578,883 | 0.79% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 60544, located in Plainfield, IL within the Kendall County, IL HUD Metro FMR Area, reveals several key points that are crucial for landlords and small-portfolio investors.
The rent math does not work favorably for landlords. The Fair Market Rent (FMR) set at $2350 for the fiscal year 2024 is notably lower than the market rent, which stands at $2,532 (ZORI). This indicates that landlords might struggle to cover their costs if they adhere strictly to the FMR guidelines, as they would be renting below the current market rate.
Acquisition appears to be reasonably affordable. With a median home value of $383,359, potential investors can expect to find properties within a range that balances investment cost against potential rental income. The average days on market (DOM) of 28 days suggests a relatively quick turnover for listings, indicating a healthy market where homes do not linger unsold for long periods. Furthermore, the low 0.2% price-cut share implies that sellers are generally achieving their asking prices without significant reductions, which is positive for maintaining property values.
Tenant demand is present but not overwhelming. The ZIP code has a population of 27,306, with 15.8% of residents being renters. This means that approximately 4,320 individuals are looking for rental properties, providing a steady but not excessive stream of potential tenants. While the number of renters is substantial, it is important to consider the competition among landlords and the overall housing supply.
In summary, while the rent math leans unfavorably towards landlords due to the disparity between FMR and market rent, the affordability of acquisitions and the presence of tenant demand make ZIP 60544 a viable option for those willing to navigate slightly challenging rental pricing. The relatively low days on market and minimal need for price cuts indicate a strong local economy capable of supporting property investments, albeit with a careful approach to ensure profitability.
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.