Location: La Salle County, IL | Metro: Kendall County, 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 | $1,410 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,540 | $306,592 | 0.83% | C |
U.S. Census Bureau data (2024)
The ZIP code 60551 stands out due to its unique demographic and economic characteristics. With a population of 5,058 residents, it has a rental rate of 19.3%, indicating a relatively low demand for rental housing compared to other areas. The median income in this ZIP is $86,786, which is significantly higher than the national average, suggesting a financially stable community. Additionally, the median home value is $295,191, reflecting a moderate to high property value range.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 60551 in fiscal year 2024 is set at $1,740. This is notably higher than the actual market rent, which according to Census ACS data, is $1,021. This disparity means that landlords participating in the Section 8 program can expect to receive a higher rent subsidy per unit than the typical market rate, potentially making the ZIP code attractive for those who wish to invest in rental properties with government assistance.
Given the data signature, ZIP 60551 appears to be a stable area. Its higher median income and moderate home values suggest a community that is economically sound and less likely to experience significant fluctuations. The relatively low rental rate and the substantial gap between FMR and market rent indicate that while there is a need for affordable housing, the overall environment is conducive to steady, reliable returns for landlords and small-portfolio investors involved in the Section 8 program.
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.