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Will County/Chicago Heights/60411

60411

ZIPSAFMR
Will County, IL
Zillow

ZIP Investment Score

213High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,410$1,460
1 BR$1,500$1,490
2 BR$1,690$1,760
3 BR$2,170$2,220
4 BR$2,480$2,610
5 BR$2,852Not available
6 BR$3,280Not available
7 BR$3,772Not available
8 BR$4,338Not available

Purchase Price Calculator

Maximum purchase price
$199,619

Cost breakdown

+Likely effective rent$1,760
HUD FMR$1,690
Market rent$1,800
Est. payment standard (104%)Used$1,760
-Principal and interest-$1,009
Loan amount$159,695
Down payment$39,924
Rate6.50%
Term30 years
-Operating costs-$551
Property taxes-$200
Insurance-$175
Utilities$0
HOA$0
Management-$176
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,270(70.8% ROI)
Projected value
$214,968
Return breakdown
Property appreciation+$15,349
Loan principal paid down+$5,721
Rental cash flow+$7,200
5-year hold
+$48,434(121.3% ROI)
Projected value
$225,850
Return breakdown
Property appreciation+$26,232
Loan principal paid down+$10,203
Rental cash flow+$12,000
10-year hold
+$104,222(261.1% ROI)
Projected value
$255,529
Return breakdown
Property appreciation+$55,910
Loan principal paid down+$24,312
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.95
1 BR
1.01
2 BR
0.94
3 BR
0.97
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60411 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60411 (Chicago Heights, IL) is $1,690 a month. That is up 15.0% from $1,470 in FY 2026. Chicago Heights 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, 60411 has the 37th-highest two-bedroom rent (county range $1,260–$3,030). The median county two-bedroom FMR in Illinois is $958, so ZIP 60411 is 77% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60411
BedroomsFY 2027Change90–110% range
Studio$1,410+15.6%$1,269–$1,551
1BR$1,500+15.4%$1,350–$1,650
2BR$1,690+15.0%$1,521–$1,859
3BR$2,170+14.8%$1,953–$2,387
4BR$2,480+13.2%$2,232–$2,728

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60411
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,410$1,500$1,690$2,170$2,480
FY 2026$1,220$1,300$1,470$1,890$2,190
FY 2025$1,170$1,250$1,410$1,810$2,130
FY 2024$1,130$1,220$1,390$1,770$2,090
FY 2023$960$1,040$1,190$1,510$1,800

Two-bedroom rent in nearby Will County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60411
60401$1,590−5.9%
60403$1,930+14.2%
60404$2,760+63.3%
60407$1,890+11.8%
60408$1,590−5.9%
60410$2,320+37.3%
60411Current$1,690—
60416$1,540−8.9%
60417$1,840+8.9%
60421$1,560−7.7%
60423$2,060+21.9%
60431$1,950+15.4%

Questions about ZIP 60411 rents

How much will Section 8 pay for a two-bedroom in ZIP 60411?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,690, that basic range is $1,521 to $1,859 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 60411 in?

ZIP 60411 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 60411 for FY 2027?

The two-bedroom FMR rose 15.0%, from $1,470 in FY 2026 to $1,690 in FY 2027. Since FY 2023 it has risen 42.0%.

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