Section 8 Fair Market Rent (FMR) for ZIP 60567 - 2027

Location: Chicago-Joliet-Naperville, IL | Metro: Chicago-Joliet-Naperville, IL HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,860
1 Bedroom	$1,970
2 Bedrooms	$2,230
3 Bedrooms	$2,860
4 Bedrooms	$3,270
5 Bedrooms	$3,793
6 Bedrooms	$4,248
7 Bedrooms	$4,588
8 Bedrooms	$4,817

To determine if you should buy in ZIP code 60567 for Section 8 investment, follow these steps:

Step 1: Can the Fair Market Rent (FMR) of $1890 cover your debt service?
- Yes: Proceed to Step 2.
- No: Do not invest in this area as the FMR is insufficient to meet financial obligations.
Step 2: How does the market rent compare to the FMR?
- Market rent is above FMR: This suggests strong demand and potential for higher returns. Continue to Step 3.
- Market rent is equal to FMR: The area is stable but not particularly attractive for premium returns. Consider other factors before making a decision.
- Market rent is below FMR: This indicates that the area may be less desirable, and it's advisable to look elsewhere for better investment opportunities.
Step 3: Is there sufficient tenant demand?
- Renters make up a significant percentage and days on market (DOM) are low: There is likely enough demand to support a Section 8 investment. Invest.
- Renters' percentage is marginal and DOM is high: Demand is weak, and properties take longer to rent out. It depends on your risk tolerance and willingness to wait for tenants.

Note: Specific percentages and DOM figures were not provided for ZIP 60567. To accurately assess demand, you must obtain these metrics and evaluate them against the criteria outlined in Step 3.

The decision to invest in ZIP 60567 for Section 8 properties hinges on whether the FMR can cover your debt service, the relationship between market rent and FMR, and the overall demand for rental properties in the area. Without precise data on market rent and tenant demand, your final decision will depend on filling in these gaps with local real estate market analysis.

Data Sources: FMR data from HUD (2027).

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.