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Cook County/Northbrook/60062

60062

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$2,210$1,960
1 BR$2,350$1,990
2 BR$2,650$2,920
3 BR$3,410$3,510
4 BR$3,890$4,280
5 BR$4,474Not available
6 BR$5,145Not available
7 BR$5,916Not available
8 BR$6,804Not available

Purchase Price Calculator

Maximum purchase price
$371,994

Cost breakdown

+Likely effective rent$2,920
HUD FMR$2,650
Market rent$3,100
Est. payment standard (110%)Used$2,920
-Principal and interest-$1,881
Loan amount$297,595
Down payment$74,399
Rate6.50%
Term30 years
-Operating costs-$839
Property taxes-$372
Insurance-$175
Utilities$0
HOA$0
Management-$292
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$46,465(62.5% ROI)
Projected value
$400,597
Return breakdown
Property appreciation+$28,603
Loan principal paid down+$10,662
Rental cash flow+$7,200
5-year hold
+$79,897(107.4% ROI)
Projected value
$420,877
Return breakdown
Property appreciation+$48,883
Loan principal paid down+$19,013
Rental cash flow+$12,000
10-year hold
+$173,495(233.2% ROI)
Projected value
$476,184
Return breakdown
Property appreciation+$104,190
Loan principal paid down+$45,306
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.13
1 BR
1.18
2 BR
0.85
3 BR
0.96
4 BR
0.83
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60062 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60062 (Northbrook, IL) is $2,650 a month. That is up 11.8% from $2,370 in FY 2026. Northbrook 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, 60062 has the 35th-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60062 is 177% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60062
BedroomsFY 2027Change90–110% range
Studio$2,210+12.2%$1,989–$2,431
1BR$2,350+11.9%$2,115–$2,585
2BR$2,650+11.8%$2,385–$2,915
3BR$3,410+11.8%$3,069–$3,751
4BR$3,890+10.2%$3,501–$4,279

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60062
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,210$2,350$2,650$3,410$3,890
FY 2026$1,970$2,100$2,370$3,050$3,530
FY 2025$1,960$2,100$2,370$3,040$3,580
FY 2024$1,860$2,000$2,280$2,900$3,440
FY 2023$1,510$1,640$1,880$2,390$2,840

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60062
60047$2,640−0.4%
60053$3,020+14.0%
60055$1,980−25.3%
60056$2,040−23.0%
60062Current$2,650—
60065$1,980−25.3%
60067$2,130−19.6%
60068$2,090−21.1%
60070$1,930−27.2%
60074$2,170−18.1%
60076$2,220−16.2%
60077$2,080−21.5%

Questions about ZIP 60062 rents

How much will Section 8 pay for a two-bedroom in ZIP 60062?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,650, that basic range is $2,385 to $2,915 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 60062 in?

ZIP 60062 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 60062 for FY 2027?

The two-bedroom FMR rose 11.8%, from $2,370 in FY 2026 to $2,650 in FY 2027. Since FY 2023 it has risen 41.0%.

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