McHenry County/Richmond/60071

60071

ZIPSAFMR

McHenry County, IL

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ZIP Investment Score

62Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,380	$1,390	6.3%
1 BR	$1,460	$1,360	5.6%
2 BR	$1,650	$1,810	5.4%
3 BR	$2,120	$2,110	5.8%
4 BR	$2,420	$2,520	4.5%
5 BR	$2,783	Not available	4.5%
6 BR	$3,200	Not available	4.5%
7 BR	$3,681	Not available	4.5%
8 BR	$4,233	Not available	4.5%

Purchase Price Calculator

Maximum purchase price

$207,049

Cost breakdown

+Likely effective rent$1,810

HUD FMR$1,650

Market rent$1,890

Est. payment standard (109%)Used$1,810

-Principal and interest-$1,047

Loan amount$165,639

Down payment$41,410

Rate6.50%

Term30 years

-Operating costs-$563

Property taxes-$207

Insurance-$175

Utilities$0

HOA$0

Management-$181

=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

+$29,055(70.2% ROI)

Projected value

$222,969

Return breakdown

Property appreciation+$15,920

Loan principal paid down+$5,934

Rental cash flow+$7,200

5-year hold

+$49,791(120.2% ROI)

Projected value

$234,257

Return breakdown

Property appreciation+$27,208

Loan principal paid down+$10,583

Rental cash flow+$12,000

10-year hold

+$107,208(258.9% ROI)

Projected value

$265,040

Return breakdown

Property appreciation+$57,991

Loan principal paid down+$25,217

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.99ratio

FMR$1,380

Market$1,390

vs market-$10

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

0.99

1 BR

1.07ratio

FMR$1,460

Market$1,360

vs market+$100

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

1.07

2 BR

0.87ratio

FMR$1,650

Market$1,890

vs market-$240

FMR is below market; voucher rent may lag private rents.

0.87

3 BR

1.00ratio

FMR$2,120

Market$2,110

vs market+$10

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

1.00

4 BR

0.94ratio

FMR$2,420

Market$2,570

vs market-$150

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

0.94

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 60071 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60071 (Richmond, IL) is $1,650 a month. That is up 11.5% from $1,480 in FY 2026. Richmond 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 27 ZIP codes in McHenry County, 60071 is tied for the 19th-highest two-bedroom rent (county range $1,060–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60071 is 72% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60071
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,230	$1,380	+12.2%	$1,242–$1,518
1BR	$1,310	$1,460	+11.5%	$1,314–$1,606
2BR	$1,480	$1,650	+11.5%	$1,485–$1,815
3BR	$1,910	$2,120	+11.0%	$1,908–$2,332
4BR	$2,200	$2,420	+10.0%	$2,178–$2,662

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60071
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,380	$1,460	$1,650	$2,120	$2,420
FY 2026	$1,230	$1,310	$1,480	$1,910	$2,200
FY 2025	$1,200	$1,280	$1,450	$1,860	$2,190
FY 2024	$1,150	$1,240	$1,410	$1,790	$2,120
FY 2023	$940	$1,020	$1,170	$1,480	$1,760

Two-bedroom rent in nearby McHenry County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 60071
60033	$1,640	−0.6%
60034	$1,520	−7.9%
60039	$1,920	+16.4%
60042	$2,540	+53.9%
60050	$2,100	+27.3%
60051	$2,270	+37.6%
60071Current	$1,650	—
60072	$1,450	−12.1%
60081	$1,660	+0.6%
60097	$1,870	+13.3%
60098	$1,670	+1.2%
60102	$2,690	+63.0%

Questions about ZIP 60071 rents

How much will Section 8 pay for a two-bedroom in ZIP 60071?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,650, that basic range is $1,485 to $1,815 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 60071 in?

ZIP 60071 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 60071 for FY 2027?

The two-bedroom FMR rose 11.5%, from $1,480 in FY 2026 to $1,650 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 rent Richmond, IL fair market rent IL statewide rents What is SAFMR?Data sources