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Cook County/Skokie/60077

60077

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

93Below average

095130300
BRFMR
Eff. Rent
0 BR$1,740$1,490
1 BR$1,840$1,740
2 BR$2,080$2,100
3 BR$2,670$2,720
4 BR$3,060$3,050
5 BR$3,519Not available
6 BR$4,047Not available
7 BR$4,654Not available
8 BR$5,352Not available

Purchase Price Calculator

Maximum purchase price
$250,143

Cost breakdown

+Likely effective rent$2,100
HUD FMR$2,080
Market rent$2,110
Est. payment standard (101%)Used$2,100
-Principal and interest-$1,265
Loan amount$200,114
Down payment$50,029
Rate6.50%
Term30 years
-Operating costs-$635
Property taxes-$250
Insurance-$175
Utilities$0
HOA$0
Management-$210
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,603(67.2% ROI)
Projected value
$269,376
Return breakdown
Property appreciation+$19,234
Loan principal paid down+$7,170
Rental cash flow+$7,200
5-year hold
+$57,656(115.2% ROI)
Projected value
$283,013
Return breakdown
Property appreciation+$32,871
Loan principal paid down+$12,785
Rental cash flow+$12,000
10-year hold
+$124,526(248.9% ROI)
Projected value
$320,204
Return breakdown
Property appreciation+$70,061
Loan principal paid down+$30,465
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.17
1 BR
1.06
2 BR
0.99
3 BR
0.97
4 BR
1.00
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60077 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60077 (Skokie, IL) is $2,080 a month. That is up 15.6% from $1,800 in FY 2026. Skokie 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, 60077 is tied for the 87th-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60077 is 117% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60077
BedroomsFY 2027Change90–110% range
Studio$1,740+16.0%$1,566–$1,914
1BR$1,840+15.0%$1,656–$2,024
2BR$2,080+15.6%$1,872–$2,288
3BR$2,670+15.1%$2,403–$2,937
4BR$3,060+14.2%$2,754–$3,366

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60077
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,740$1,840$2,080$2,670$3,060
FY 2026$1,500$1,600$1,800$2,320$2,680
FY 2025$1,490$1,590$1,800$2,310$2,720
FY 2024$1,440$1,550$1,760$2,240$2,650
FY 2023$1,220$1,330$1,520$1,930$2,290

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60077
60062$2,650+27.4%
60065$1,980−4.8%
60067$2,130+2.4%
60068$2,090+0.5%
60070$1,930−7.2%
60074$2,170+4.3%
60076$2,220+6.7%
60077Current$2,080—
60078$1,980−4.8%
60089$2,850+37.0%
60090$2,290+10.1%
60091$3,020+45.2%

Questions about ZIP 60077 rents

How much will Section 8 pay for a two-bedroom in ZIP 60077?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,080, that basic range is $1,872 to $2,288 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 60077 in?

ZIP 60077 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 60077 for FY 2027?

The two-bedroom FMR rose 15.6%, from $1,800 in FY 2026 to $2,080 in FY 2027. Since FY 2023 it has risen 36.8%.

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