Location: Chicago-Joliet-Naperville, IL | Metro: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,650 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $1,980 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
The ZIP code 60674 is located in Chicago, IL, specifically in the downtown Loop neighborhood, which is a bustling commercial and financial district. Unlike typical residential areas, this ZIP code is unique in that it primarily serves a major business entity—Bank of America. There is no population data available for this ZIP code because it is dedicated to a corporate headquarters rather than a residential neighborhood. Consequently, there is no percentage of renters, median income, or median home value data applicable to this area.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP code 60674 in fiscal year 2024 is set at $1680. Given the nature of this ZIP code being dedicated to a business entity, there is no market rent data available. This makes the ZIP code unsuitable for traditional rental analysis or Section 8 housing programs designed for residential areas.
For investors considering involvement in this ZIP code, it is clear that 60674 is not suitable for hands-off voucher operators or value-add buyers focused on residential properties. The ZIP code is entirely geared towards the needs of a large financial institution, with all services and infrastructure tailored to support its high-volume mail processing center. Investors looking to engage in real estate activities should focus on other residential ZIP codes within the broader Chicago area where they can apply their investment strategies effectively.
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.