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Cook County/Prospect Heights/60070

60070

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$1,610$1,680
1 BR$1,710$1,790
2 BR$1,930$2,120
3 BR$2,480$2,730
4 BR$2,830$3,110
5 BR$3,254Not available
6 BR$3,743Not available
7 BR$4,304Not available
8 BR$4,950Not available

Purchase Price Calculator

Maximum purchase price
$253,115

Cost breakdown

+Likely effective rent$2,120
HUD FMR$1,930
Market rent$2,280
Est. payment standard (110%)Used$2,120
-Principal and interest-$1,280
Loan amount$202,492
Down payment$50,623
Rate6.50%
Term30 years
-Operating costs-$640
Property taxes-$253
Insurance-$175
Utilities$0
HOA$0
Management-$212
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,917(67.0% ROI)
Projected value
$272,577
Return breakdown
Property appreciation+$19,462
Loan principal paid down+$7,255
Rental cash flow+$7,200
5-year hold
+$58,199(115.0% ROI)
Projected value
$286,376
Return breakdown
Property appreciation+$33,261
Loan principal paid down+$12,937
Rental cash flow+$12,000
10-year hold
+$125,721(248.3% ROI)
Projected value
$324,008
Return breakdown
Property appreciation+$70,893
Loan principal paid down+$30,827
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
0.93
2 BR
0.85
3 BR
0.86
4 BR
0.85
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60070 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60070 (Prospect Heights, IL) is $1,930 a month. That is up 12.9% from $1,710 in FY 2026. Prospect 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, 60070 is tied for the 146th-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60070 is 102% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60070
BedroomsFY 2027Change90–110% range
Studio$1,610+13.4%$1,449–$1,771
1BR$1,710+12.5%$1,539–$1,881
2BR$1,930+12.9%$1,737–$2,123
3BR$2,480+12.7%$2,232–$2,728
4BR$2,830+11.0%$2,547–$3,113

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60070
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,610$1,710$1,930$2,480$2,830
FY 2026$1,420$1,520$1,710$2,200$2,550
FY 2025$1,390$1,490$1,680$2,160$2,530
FY 2024$1,330$1,430$1,630$2,080$2,460
FY 2023$1,080$1,170$1,340$1,700$2,020

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60070
60053$3,020+56.5%
60055$1,980+2.6%
60056$2,040+5.7%
60062$2,650+37.3%
60065$1,980+2.6%
60067$2,130+10.4%
60068$2,090+8.3%
60070Current$1,930—
60074$2,170+12.4%
60076$2,220+15.0%
60077$2,080+7.8%
60078$1,980+2.6%

Questions about ZIP 60070 rents

How much will Section 8 pay for a two-bedroom in ZIP 60070?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,930, that basic range is $1,737 to $2,123 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 60070 in?

ZIP 60070 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 60070 for FY 2027?

The two-bedroom FMR rose 12.9%, from $1,710 in FY 2026 to $1,930 in FY 2027. Since FY 2023 it has risen 44.0%.

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