Section 8 Fair Market Rent (FMR) for ZIP 60805 - 2027

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

Investment Score for ZIP 60805

Monthly Rent (2BR)

$1,890

Median Price (2BR)

$237,256

1% Rule

0.8%

Annual Yield

9.56%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,580
1 Bedroom	$1,670
2 Bedrooms	$1,890
3 Bedrooms	$2,430
4 Bedrooms	$2,780
5 Bedrooms	$3,225
6 Bedrooms	$3,612
7 Bedrooms	$3,901
8 Bedrooms	$4,096

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,890	$237,256	0.8%	D
3BR	$2,430	$289,205	0.84%	C
4BR	$2,780	$340,476	0.82%	C
5BR	$3,225	$396,639	0.81%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

19,420

Median Household Income

$95,719

Housing Units

7,538

Renter Percentage

15.2%

Occupancy Rate

95.7%

Renter Occupied

1,094

Evergreen Park, located in ZIP code 60805, is a suburban community in Cook County, Illinois, known for its family-friendly environment and proximity to Chicago. The area offers a mix of rental and homeownership opportunities, catering to a diverse range of residents.

The Fair Market Rent (FMR) for ZIP 60805 is set at $1,650 for the fiscal year 2024, indicating the benchmark rent price established by the U.S. Department of Housing and Urban Development (HUD).
The average market rent, according to the latest Census American Community Survey (ACS), is $1,420. This figure represents the typical rent prices paid by tenants in the area.
The median home value in Evergreen Park is $281,370, providing insight into the overall housing market value and potential resale opportunities.
Renters make up 15.2% of the total population, suggesting that while homeownership is prevalent, there is still a significant demand for rental properties.
The days on market (DOM) for rental listings is 34 days, which is relatively short, implying a competitive rental market where units tend to be occupied quickly.
The median household income in Evergreen Park is $95,719, reflecting the economic stability and purchasing power of the local residents.

Investors in Evergreen Park can leverage these data points to inform their investment strategies. With HUD's FMR slightly above the market rent, there is potential for modest pricing adjustments without alienating tenants. The short DOM indicates strong tenant demand, but the relatively low renter share suggests a focus on homeownership among residents. The median home value and household income provide a solid foundation for property appreciation and stable cash flows, making Evergreen Park a viable option for both rental and buy-to-hold investments.

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.