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Lake County/Fox River Grove/60021

60021

ZIPSAFMR
Lake County, IL
Zillow

ZIP Investment Score

100Above average

095130300
BRFMR
Eff. Rent
0 BR$2,520$1,530
1 BR$2,670$1,720
2 BR$3,020$2,190
3 BR$3,880$2,620
4 BR$4,440$3,320
5 BR$5,106Not available
6 BR$5,872Not available
7 BR$6,753Not available
8 BR$7,766Not available

Purchase Price Calculator

Maximum purchase price
$263,517

Cost breakdown

+Likely effective rent$2,190
HUD FMR$3,020
Market rentUsed$2,190
Est. payment standard (90%)$2,720
-Principal and interest-$1,332
Loan amount$210,813
Down payment$52,703
Rate6.50%
Term30 years
-Operating costs-$658
Property taxes-$264
Insurance-$175
Utilities$0
HOA$0
Management-$219
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$35,015(66.4% ROI)
Projected value
$283,779
Return breakdown
Property appreciation+$20,262
Loan principal paid down+$7,553
Rental cash flow+$7,200
5-year hold
+$60,097(114.0% ROI)
Projected value
$298,145
Return breakdown
Property appreciation+$34,628
Loan principal paid down+$13,469
Rental cash flow+$12,000
10-year hold
+$129,901(246.5% ROI)
Projected value
$337,324
Return breakdown
Property appreciation+$73,807
Loan principal paid down+$32,094
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.65
1 BR
1.55
2 BR
1.38
3 BR
1.48
4 BR
1.34
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60021 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60021 (Fox River Grove, IL) is $3,020 a month. That is up 13.1% from $2,670 in FY 2026. Fox River Grove 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 39 ZIP codes in Lake County, 60021 is tied for the highest two-bedroom rent (county range $1,440–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60021 is 215% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60021
BedroomsFY 2027Change90–110% range
Studio$2,520+13.5%$2,268–$2,772
1BR$2,670+12.7%$2,403–$2,937
2BR$3,020+13.1%$2,718–$3,322
3BR$3,880+12.8%$3,492–$4,268
4BR$4,440+11.6%$3,996–$4,884

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60021
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,520$2,670$3,020$3,880$4,440
FY 2026$2,220$2,370$2,670$3,440$3,980
FY 2025$2,080$2,220$2,510$3,220$3,790
FY 2024$1,520$1,640$1,860$2,370$2,800
FY 2023$1,170$1,260$1,450$1,840$2,190

Two-bedroom rent in nearby Lake County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60021
60002$1,650−45.4%
60010$3,0200.0%
60011$2,020−33.1%
60013$2,120−29.8%
60015$3,0200.0%
60020$1,740−42.4%
60021Current$3,020—
60030$2,210−26.8%
60031$2,310−23.5%
60035$2,670−11.6%
60037$2,030−32.8%
60040$2,550−15.6%

Questions about ZIP 60021 rents

How much will Section 8 pay for a two-bedroom in ZIP 60021?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,020, that basic range is $2,718 to $3,322 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 60021 in?

ZIP 60021 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 60021 for FY 2027?

The two-bedroom FMR rose 13.1%, from $2,670 in FY 2026 to $3,020 in FY 2027. Since FY 2023 it has risen 108.3%.

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 rentFox River Grove, IL fair market rentIL statewide rentsWhat is SAFMR?Data sources