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Cook County/Crete/60417

60417

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

97Above average

095130300
BRFMR
Eff. Rent
0 BR$1,540$1,550
1 BR$1,630$1,540
2 BR$1,840$1,810
3 BR$2,370$2,050
4 BR$2,700$2,450
5 BR$3,105Not available
6 BR$3,571Not available
7 BR$4,106Not available
8 BR$4,722Not available

Purchase Price Calculator

Maximum purchase price
$207,049

Cost breakdown

+Likely effective rent$1,810
HUD FMR$1,840
Market rentUsed$1,810
Est. payment standard (99%)$1,820
-Principal and interest-$1,047
Loan amount$165,639
Down payment$41,410
Rate6.50%
Term30 years
-Operating costs-$563
Property taxes-$207
Insurance-$175
Utilities$0
HOA$0
Management-$181
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,055(70.2% ROI)
Projected value
$222,969
Return breakdown
Property appreciation+$15,920
Loan principal paid down+$5,934
Rental cash flow+$7,200
5-year hold
+$49,791(120.2% ROI)
Projected value
$234,257
Return breakdown
Property appreciation+$27,208
Loan principal paid down+$10,583
Rental cash flow+$12,000
10-year hold
+$107,208(258.9% ROI)
Projected value
$265,040
Return breakdown
Property appreciation+$57,991
Loan principal paid down+$25,217
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.99
1 BR
1.06
2 BR
1.02
3 BR
1.16
4 BR
1.10
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60417 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60417 (Crete, IL) is $1,840 a month. That is up 17.2% from $1,570 in FY 2026. Crete 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, 60417 is tied for the 160th-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60417 is 92% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60417
BedroomsFY 2027Change90–110% range
Studio$1,540+18.5%$1,386–$1,694
1BR$1,630+17.3%$1,467–$1,793
2BR$1,840+17.2%$1,656–$2,024
3BR$2,370+17.3%$2,133–$2,607
4BR$2,700+15.4%$2,430–$2,970

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60417
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,540$1,630$1,840$2,370$2,700
FY 2026$1,300$1,390$1,570$2,020$2,340
FY 2025$1,230$1,310$1,480$1,900$2,230
FY 2024$1,110$1,200$1,360$1,730$2,050
FY 2023$930$1,000$1,150$1,460$1,730

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60417
60406$1,500−18.5%
60409$1,640−10.9%
60411$1,690−8.2%
60412$1,980+7.6%
60415$1,730−6.0%
60417Current$1,840—
60418$1,780−3.3%
60419$2,020+9.8%
60422$3,020+64.1%
60423$2,060+12.0%
60425$2,170+17.9%
60426$1,470−20.1%

Questions about ZIP 60417 rents

How much will Section 8 pay for a two-bedroom in ZIP 60417?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,840, that basic range is $1,656 to $2,024 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 60417 in?

ZIP 60417 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 60417 for FY 2027?

The two-bedroom FMR rose 17.2%, from $1,570 in FY 2026 to $1,840 in FY 2027. Since FY 2023 it has risen 60.0%.

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