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Cook County/Arlington Heights/60005

60005

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

87Below average

095130300
BRFMR
Eff. Rent
0 BR$1,840$1,760
1 BR$1,950$1,980
2 BR$2,200$2,300
3 BR$2,830$2,990
4 BR$3,230$3,260
5 BR$3,714Not available
6 BR$4,272Not available
7 BR$4,912Not available
8 BR$5,649Not available

Purchase Price Calculator

Maximum purchase price
$279,863

Cost breakdown

+Likely effective rent$2,300
HUD FMR$2,200
Market rent$2,350
Est. payment standard (104%)Used$2,300
-Principal and interest-$1,415
Loan amount$223,890
Down payment$55,973
Rate6.50%
Term30 years
-Operating costs-$685
Property taxes-$280
Insurance-$175
Utilities$0
HOA$0
Management-$230
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$36,740(65.6% ROI)
Projected value
$301,381
Return breakdown
Property appreciation+$21,519
Loan principal paid down+$8,021
Rental cash flow+$7,200
5-year hold
+$63,081(112.7% ROI)
Projected value
$316,639
Return breakdown
Property appreciation+$36,776
Loan principal paid down+$14,304
Rental cash flow+$12,000
10-year hold
+$136,470(243.8% ROI)
Projected value
$358,248
Return breakdown
Property appreciation+$78,385
Loan principal paid down+$34,085
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.05
1 BR
0.98
2 BR
0.94
3 BR
0.92
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60005 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60005 (Arlington Heights, IL) is $2,200 a month. That is up 13.4% from $1,940 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, 60005 has the 74th-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60005 is 130% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60005
BedroomsFY 2027Change90–110% range
Studio$1,840+14.3%$1,656–$2,024
1BR$1,950+13.4%$1,755–$2,145
2BR$2,200+13.4%$1,980–$2,420
3BR$2,830+13.2%$2,547–$3,113
4BR$3,230+11.8%$2,907–$3,553

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60005
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,840$1,950$2,200$2,830$3,230
FY 2026$1,610$1,720$1,940$2,500$2,890
FY 2025$1,570$1,670$1,890$2,430$2,850
FY 2024$1,490$1,600$1,820$2,320$2,740
FY 2023$1,210$1,320$1,510$1,920$2,280

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60005
60004$2,470+12.3%
60005Current$2,200—
60006$1,980−10.0%
60007$2,210+0.5%
60008$2,160−1.8%
60009$1,980−10.0%
60010$3,020+37.3%
60011$2,020−8.2%
60015$3,020+37.3%
60016$2,230+1.4%
60017$1,980−10.0%
60018$1,670−24.1%

Questions about ZIP 60005 rents

How much will Section 8 pay for a two-bedroom in ZIP 60005?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,200, that basic range is $1,980 to $2,420 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 60005 in?

ZIP 60005 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 60005 for FY 2027?

The two-bedroom FMR rose 13.4%, from $1,940 in FY 2026 to $2,200 in FY 2027. Since FY 2023 it has risen 45.7%.

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 rentArlington Heights, IL fair market rentIL statewide rentsWhat is SAFMR?Data sources