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IL/Cook County/Melrose Park

Melrose Park, IL

CitySAFMR
Cook County
Found 3 ZIPs
Zillow

City Median Investment Score

106Above average

095130300
BRFMR
Eff. Rent
0 BR$1,310 – $1,650$1,130 – $1,340
1 BR$1,390 – $1,750$1,320 – $1,570
2 BR$1,570 – $1,980$1,400 – $1,760
3 BR$2,020 – $2,550$1,840 – $2,260
4 BR$2,310 – $2,910$2,040 – $2,610
5 BR$2,772Not available
6 BR$3,187Not available
7 BR$3,665Not available
8 BR$4,215Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1
1
1
0.97-1.46
1 BR
1
1
1
0.79-1.33
2 BR
1
1
1
0.71-1.41
3 BR
1
1
1
0.83-1.39
4 BR
1
1
1
0.80-1.43
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Melrose Park, IL fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 3 ZIP codes in Melrose Park, IL ranges from $1,570 to $1,980 a month, with a median of $1,640. That is up 7.9% from $1,520 in FY 2026. Melrose Park is in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Illinois is $958, so Melrose Park is 71% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Melrose Park, IL
BedroomsFY 2027Change90–110% range
Studio$1,370+8.7%$1,233–$1,507
1BR$1,450+7.4%$1,305–$1,595
2BR$1,640+7.9%$1,476–$1,804
3BR$2,110+7.7%$1,899–$2,321
4BR$2,410+6.6%$2,169–$2,651

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Melrose Park, IL
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,370$1,450$1,640$2,110$2,410
FY 2026$1,260$1,350$1,520$1,960$2,260
FY 2025$1,260$1,350$1,520$1,950$2,290
FY 2024$1,220$1,320$1,500$1,910$2,260
FY 2023$1,040$1,120$1,290$1,640$1,950

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
60161$1,980+20.7%
60160$1,6400.0%
60164$1,570−4.3%

Questions about Melrose Park, IL rents

How much will Section 8 pay for a two-bedroom in Melrose Park, IL?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,640, that basic range is $1,476 to $1,804 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is Melrose Park, IL in?

Melrose Park, IL is in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in Melrose Park, IL for FY 2027?

The two-bedroom FMR rose 7.9%, from $1,520 in FY 2026 to $1,640 in FY 2027. Since FY 2023 it has risen 27.1%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentIL statewide rentsWhat is SAFMR?Data sources