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Cook County/Berkeley/60163

60163

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

122Above average

095130300
BRFMR
Eff. Rent
0 BR$1,440$1,500
1 BR$1,520$1,670
2 BR$1,720$1,890
3 BR$2,210$2,430
4 BR$2,530$2,780
5 BR$2,910Not available
6 BR$3,346Not available
7 BR$3,848Not available
8 BR$4,425Not available

Purchase Price Calculator

Maximum purchase price
$218,937

Cost breakdown

+Likely effective rent$1,890
HUD FMR$1,720
Market rent$2,190
Est. payment standard (110%)Used$1,890
-Principal and interest-$1,107
Loan amount$175,149
Down payment$43,787
Rate6.50%
Term30 years
-Operating costs-$583
Property taxes-$219
Insurance-$175
Utilities$0
HOA$0
Management-$189
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,309(69.2% ROI)
Projected value
$235,771
Return breakdown
Property appreciation+$16,834
Loan principal paid down+$6,275
Rental cash flow+$7,200
5-year hold
+$51,960(118.7% ROI)
Projected value
$247,707
Return breakdown
Property appreciation+$28,770
Loan principal paid down+$11,190
Rental cash flow+$12,000
10-year hold
+$111,985(255.7% ROI)
Projected value
$280,258
Return breakdown
Property appreciation+$61,321
Loan principal paid down+$26,665
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
0.82
2 BR
0.79
3 BR
0.75
4 BR
0.73
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60163 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60163 (Berkeley, IL) is $1,720 a month. That is up 22.0% from $1,410 in FY 2026. Berkeley 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, 60163 is tied for the 179th-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60163 is 80% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60163
BedroomsFY 2027Change90–110% range
Studio$1,440+23.1%$1,296–$1,584
1BR$1,520+21.6%$1,368–$1,672
2BR$1,720+22.0%$1,548–$1,892
3BR$2,210+21.4%$1,989–$2,431
4BR$2,530+20.5%$2,277–$2,783

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60163
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,440$1,520$1,720$2,210$2,530
FY 2026$1,170$1,250$1,410$1,820$2,100
FY 2025$1,130$1,200$1,360$1,750$2,050
FY 2024$1,130$1,220$1,390$1,770$2,090
FY 2023$970$1,050$1,200$1,520$1,810

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60163
60154$2,440+41.9%
60155$1,550−9.9%
60159$1,980+15.1%
60160$1,640−4.7%
60161$1,980+15.1%
60162$1,880+9.3%
60163Current$1,720—
60164$1,570−8.7%
60165$1,800+4.7%
60168$1,980+15.1%
60169$2,310+34.3%
60171$1,730+0.6%

Questions about ZIP 60163 rents

How much will Section 8 pay for a two-bedroom in ZIP 60163?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,720, that basic range is $1,548 to $1,892 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 60163 in?

ZIP 60163 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 60163 for FY 2027?

The two-bedroom FMR rose 22.0%, from $1,410 in FY 2026 to $1,720 in FY 2027. Since FY 2023 it has risen 43.3%.

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