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Cook County/Schaumburg/60194

60194

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

114Above average

095130300
BRFMR
Eff. Rent
0 BR$2,180$2,180
1 BR$2,310$1,960
2 BR$2,610$2,130
3 BR$3,360$2,820
4 BR$3,830$3,190
5 BR$4,405Not available
6 BR$5,065Not available
7 BR$5,825Not available
8 BR$6,699Not available

Purchase Price Calculator

Maximum purchase price
$254,601

Cost breakdown

+Likely effective rent$2,130
HUD FMR$2,610
Market rentUsed$2,130
Est. payment standard (90%)$2,350
-Principal and interest-$1,287
Loan amount$203,681
Down payment$50,920
Rate6.50%
Term30 years
-Operating costs-$643
Property taxes-$255
Insurance-$175
Utilities$0
HOA$0
Management-$213
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,074(66.9% ROI)
Projected value
$274,177
Return breakdown
Property appreciation+$19,576
Loan principal paid down+$7,297
Rental cash flow+$7,200
5-year hold
+$58,470(114.8% ROI)
Projected value
$288,057
Return breakdown
Property appreciation+$33,457
Loan principal paid down+$13,013
Rental cash flow+$12,000
10-year hold
+$126,318(248.1% ROI)
Projected value
$325,910
Return breakdown
Property appreciation+$71,310
Loan principal paid down+$31,008
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.00
1 BR
1.18
2 BR
1.23
3 BR
1.19
4 BR
1.20
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60194 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60194 (Schaumburg, IL) is $2,610 a month. That is up 12.0% from $2,330 in FY 2026. Schaumburg 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, 60194 has the 42nd-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60194 is 173% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60194
BedroomsFY 2027Change90–110% range
Studio$2,180+12.4%$1,962–$2,398
1BR$2,310+11.6%$2,079–$2,541
2BR$2,610+12.0%$2,349–$2,871
3BR$3,360+12.0%$3,024–$3,696
4BR$3,830+10.4%$3,447–$4,213

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60194
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,180$2,310$2,610$3,360$3,830
FY 2026$1,940$2,070$2,330$3,000$3,470
FY 2025$1,900$2,030$2,290$2,940$3,460
FY 2024$1,800$1,940$2,210$2,810$3,330
FY 2023$1,470$1,600$1,830$2,320$2,760

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60194
60173$2,470−5.4%
60176$1,720−34.1%
60192$3,020+15.7%
60193$2,640+1.1%
60194Current$2,610—
60195$2,390−8.4%
60196$1,980−24.1%
60201$2,630+0.8%
60202$2,460−5.7%
60203$2,570−1.5%
60204$1,980−24.1%
60208$2,630+0.8%

Questions about ZIP 60194 rents

How much will Section 8 pay for a two-bedroom in ZIP 60194?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,610, that basic range is $2,349 to $2,871 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 60194 in?

ZIP 60194 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 60194 for FY 2027?

The two-bedroom FMR rose 12.0%, from $2,330 in FY 2026 to $2,610 in FY 2027. Since FY 2023 it has risen 42.6%.

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