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 | $1,460 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,570 |
| 5 Bedrooms | $2,981 |
| 6 Bedrooms | $3,339 |
| 7 Bedrooms | $3,606 |
| 8 Bedrooms | $3,786 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,750 | $306,107 | 0.57% | F |
| 3BR | $2,250 | $391,429 | 0.57% | F |
| 4BR | $2,570 | $509,538 | 0.5% | F |
| 5BR | $2,981 | $572,462 | 0.52% | F |
U.S. Census Bureau data (2024)
The ZIP code 60554, located in Sugar Grove, IL, is primarily a homeowner-dominated area with only 8.9% of residents being renters. This makes it less likely to have a deep voucher demand compared to areas with higher percentages of renters. The median household income in this ZIP code is $122,734, which is significantly higher than the national average. Given the market rent of $1,486, we can calculate that the typical rent consumes approximately 12.1% of the local median income. This is derived from dividing the market rent by the median income and multiplying by 100. In comparison, the Fair Market Rent (FMR) for the area, set at $1,590 for FY 2024, represents about 12.9% of the median income.
Landlords in ZIP 60554 should anticipate tenants who are financially stable and capable of meeting their rental obligations without heavy reliance on housing vouchers. The relatively low percentage of renters suggests that those seeking housing through the Section 8 program will be a smaller subset of the overall rental market. Additionally, the slight discrepancy between the market rent and the FMR indicates that while there is some subsidy available, it may not cover the entire cost of renting in this area, thus requiring tenants to contribute a portion of their own funds.
In summary, ZIP 60554 is not a renter-heavy area, but rather a community where homeownership prevails. The income levels suggest that tenants here are likely to be employed and financially secure, able to afford rent that constitutes roughly 12-13% of their income. Landlords should prepare for a tenant pool that includes a mix of individuals and families who might benefit from partial rental assistance but are also willing and able to pay a significant share of the market rent out-of-pocket.
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.