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Will County/Channahon/60410

60410

ZIPSAFMR
Will County, IL
Zillow

ZIP Investment Score

77Below average

095130300
BRFMR
Eff. Rent
0 BR$1,870$1,760
1 BR$1,970$1,860
2 BR$2,320$1,890
3 BR$3,050$2,080
4 BR$3,500$2,320
5 BR$4,025Not available
6 BR$4,629Not available
7 BR$5,323Not available
8 BR$6,122Not available

Purchase Price Calculator

Maximum purchase price
$218,937

Cost breakdown

+Likely effective rent$1,890
HUD FMR$2,320
Market rentUsed$1,890
Est. payment standard (90%)$2,090
-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
1.06
1 BR
1.06
2 BR
1.23
3 BR
1.47
4 BR
1.51
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60410 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60410 (Channahon, IL) is $2,320 a month. That is up 10.5% from $2,100 in FY 2026. Channahon 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 49 ZIP codes in Will County, 60410 has the 13th-highest two-bedroom rent (county range $1,260–$3,030). The median county two-bedroom FMR in Illinois is $958, so ZIP 60410 is 142% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60410
BedroomsFY 2027Change90–110% range
Studio$1,870+12.0%$1,683–$2,057
1BR$1,970+10.1%$1,773–$2,167
2BR$2,320+10.5%$2,088–$2,552
3BR$3,050+10.9%$2,745–$3,355
4BR$3,500+11.1%$3,150–$3,850

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60410
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,870$1,970$2,320$3,050$3,500
FY 2026$1,670$1,790$2,100$2,750$3,150
FY 2025$1,660$1,790$2,110$2,740$3,070
FY 2024$1,550$1,680$2,000$2,570$2,900
FY 2023$1,260$1,380$1,630$2,080$2,390

Two-bedroom rent in nearby Will County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60410
60401$1,590−31.5%
60403$1,930−16.8%
60404$2,760+19.0%
60407$1,890−18.5%
60408$1,590−31.5%
60410Current$2,320—
60411$1,690−27.2%
60416$1,540−33.6%
60417$1,840−20.7%
60421$1,560−32.8%
60423$2,060−11.2%
60431$1,950−15.9%

Questions about ZIP 60410 rents

How much will Section 8 pay for a two-bedroom in ZIP 60410?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,320, that basic range is $2,088 to $2,552 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 60410 in?

ZIP 60410 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 60410 for FY 2027?

The two-bedroom FMR rose 10.5%, from $2,100 in FY 2026 to $2,320 in FY 2027. Since FY 2023 it has risen 42.3%.

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