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IL/Lake County/GREAT LAKES

GREAT LAKES, IL

CitySAFMR
Lake County
Found 1 ZIP
Zillow
BRFMR
Eff. Rent
0 BR$1,940▼$1,580
1 BR$2,080▼$1,490
2 BR$2,340▼$1,610
3 BR$3,010▼$2,460
4 BR$3,490▼$2,590
5 BR$4,013▼—
6 BR$4,616▼—
7 BR$5,308▼—
8 BR$6,104▼—

Purchase Price Calculator

Maximum purchase price
$177,329

Cost breakdown

+Likely effective rent$1,610
HUD FMR$2,340
Market rentUsed$1,610
Est. payment standard (90%)$2,110
Market rent is below the inferred standard ($2,110, 90% of FMR).
-Principal and interest-$897
Loan amount$141,863
Down payment$35,466
Rate6.50%
Term30 years
-Operating costs-$513
Property taxes-$177
Insurance-$175
Utilities$0
HOA$0
Management-$161
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,918(73.1% ROI)
Projected value
$190,964
Current value$177,329
Return breakdown
Property appreciation+$13,635
Loan principal paid down+$5,083
Rental cash flow+$7,200
5-year hold
+$44,366(125.1% ROI)
Projected value
$200,631
Current value$177,329
Return breakdown
Property appreciation+$23,302
Loan principal paid down+$9,064
Rental cash flow+$12,000
10-year hold
+$95,264(268.6% ROI)
Projected value
$226,996
Current value$177,329
Return breakdown
Property appreciation+$49,667
Loan principal paid down+$21,597
Rental cash flow+$24,000

Market Alignment

FMR / market rent by bedroom; grey wings show the 90-110% payment-standard spread.

Studio
Studio- 60088
1.23ratio
FMR$1,940
Market$1,580
vs market+$360

FMR is above market; underwrite to market rent.

90% standard$1,746 / 1.11 ratio110% standard$2,134 / 1.35 ratio
1.23
1 BR
1 BR- 60088
1.40ratio
FMR$2,080
Market$1,490
vs market+$590

FMR is above market; underwrite to market rent.

90% standard$1,872 / 1.26 ratio110% standard$2,288 / 1.54 ratio
1.40
2 BR
2 BR- 60088
1.45ratio
FMR$2,340
Market$1,610
vs market+$730

FMR is above market; underwrite to market rent.

90% standard$2,106 / 1.31 ratio110% standard$2,574 / 1.60 ratio
1.45
3 BR
3 BR- 60088
1.22ratio
FMR$3,010
Market$2,460
vs market+$550

FMR is above market; underwrite to market rent.

90% standard$2,709 / 1.10 ratio110% standard$3,311 / 1.35 ratio
1.22
4 BR
4 BR- 60088
1.35ratio
FMR$3,490
Market$2,590
vs market+$900

FMR is above market; underwrite to market rent.

90% standard$3,141 / 1.21 ratio110% standard$3,839 / 1.48 ratio
1.35
0.700.800.901.001.101.201.30aligned range

HUD benchmarks exceed market rents across all bedroom sizes.

Historical
FY 2022-2026

Data freshness

FMR
FY2026
Market rent
last ~365 days
About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for GREAT LAKES, IL (IL) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled SAFMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.

What is FMR?What is SAFMR?Data sourcesIncomplete geosView county page
Related ZIPs
60088

GREAT LAKES, IL fair market rent benchmarks

The FY 2026 HUD Small Area Fair Market Rent (SAFMR) page for GREAT LAKES, IL shows monthly rent benchmarks by bedroom size for Housing Choice Voucher and Section 8 comparisons. The 2 bedroom fair market rent is $2,340 and the 4 bedroom fair market rent is $3,490.

Use these values to compare bedroom-size rent benchmarks and screen a property's rent assumptions. Local housing authorities set voucher payment standards, which may be above or below published HUD FMR, so confirm the applicable authority and current schedule before underwriting a property. Read the FMR and payment-standard guide for the full verification workflow.

FY 2026 Fair Market Rent by bedroom size for GREAT LAKES, IL
Bedroom sizeHUD FMR
Studio$1,940
1 bedroom$2,080
2 bedroom$2,340
3 bedroom$3,010
4 bedroom$3,490
Lake County fair market rent60088 FMR