60004

ZIPSAFMR

Cook County, IL

ZIP Investment Score

99Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$2,060	$1,740	6.2%
1 BR	$2,190	$1,920	5.8%
2 BR	$2,470	$2,440	5.4%
3 BR	$3,180	$3,200	5.7%
4 BR	$3,630	$3,430	4.5%
5 BR	$4,175	Not available	4.5%
6 BR	$4,801	Not available	4.5%
7 BR	$5,521	Not available	4.5%
8 BR	$6,349	Not available	4.5%

Purchase Price Calculator

Maximum purchase price

$300,667

Cost breakdown

+Likely effective rent$2,440

HUD FMR$2,470

Market rentUsed$2,440

Est. payment standard (99%)$2,450

-Principal and interest-$1,520

Loan amount$240,533

Down payment$60,133

Rate6.50%

Term30 years

-Operating costs-$720

Property taxes-$301

Insurance-$175

Utilities$0

HOA$0

Management-$244

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$38,936(64.7% ROI)

Projected value

$323,785

Return breakdown

Property appreciation+$23,118

Loan principal paid down+$8,618

Rental cash flow+$7,200

5-year hold

+$66,878(111.2% ROI)

Projected value

$340,177

Return breakdown

Property appreciation+$39,510

Loan principal paid down+$15,368

Rental cash flow+$12,000

10-year hold

+$144,831(240.8% ROI)

Projected value

$384,879

Return breakdown

Property appreciation+$84,212

Loan principal paid down+$36,618

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.18ratio

FMR$2,060

Market$1,740

vs market+$320

FMR is above market; underwrite to market rent.

1.18

1 BR

1.14ratio

FMR$2,190

Market$1,920

vs market+$270

FMR is above market; underwrite to market rent.

1.14

2 BR

1.01ratio

FMR$2,470

Market$2,440

vs market+$30

FMR is near market; voucher and private rents are aligned.

1.01

3 BR

0.99ratio

FMR$3,180

Market$3,210

vs market-$30

FMR is near market; voucher and private rents are aligned.

0.99

4 BR

1.06ratio

FMR$3,630

Market$3,430

vs market+$200

FMR is near market; voucher and private rents are aligned.

1.06

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 60004 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60004 (Arlington Heights, IL) is $2,470 a month. That is up 12.8% from $2,190 in FY 2026. Arlington Heights 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. Among 222 ZIP codes in Cook County, 60004 is tied for the 50th-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60004 is 158% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60004
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,820	$2,060	+13.2%	$1,854–$2,266
1BR	$1,940	$2,190	+12.9%	$1,971–$2,409
2BR	$2,190	$2,470	+12.8%	$2,223–$2,717
3BR	$2,820	$3,180	+12.8%	$2,862–$3,498
4BR	$3,260	$3,630	+11.3%	$3,267–$3,993

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60004
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$2,060	$2,190	$2,470	$3,180	$3,630
FY 2026	$1,820	$1,940	$2,190	$2,820	$3,260
FY 2025	$1,810	$1,930	$2,180	$2,800	$3,290
FY 2024	$1,720	$1,850	$2,110	$2,690	$3,180
FY 2023	$1,430	$1,550	$1,780	$2,260	$2,690

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 60004
60004Current	$2,470	—
60005	$2,200	−10.9%
60006	$1,980	−19.8%
60007	$2,210	−10.5%
60008	$2,160	−12.6%
60009	$1,980	−19.8%
60010	$3,020	+22.3%
60011	$2,020	−18.2%
60015	$3,020	+22.3%
60016	$2,230	−9.7%
60017	$1,980	−19.8%
60018	$1,670	−32.4%

Questions about ZIP 60004 rents

How much will Section 8 pay for a two-bedroom in ZIP 60004?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,470, that basic range is $2,223 to $2,717 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 ZIP 60004 in?

ZIP 60004 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 ZIP 60004 for FY 2027?

The two-bedroom FMR rose 12.8%, from $2,190 in FY 2026 to $2,470 in FY 2027. Since FY 2023 it has risen 38.8%.

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 rent Arlington Heights, IL fair market rent IL statewide rents What is SAFMR?Data sources