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Will County/Romeoville/60446

60446

ZIPSAFMR
Will County, IL
Zillow

ZIP Investment Score

136High yield potential

095130300
BRFMR
Eff. Rent
0 BR$2,140$2,160
1 BR$2,270$1,910
2 BR$2,570$2,190
3 BR$3,300$2,660
4 BR$3,770$2,710
5 BR$4,336Not available
6 BR$4,986Not available
7 BR$5,734Not available
8 BR$6,594Not available

Purchase Price Calculator

Maximum purchase price
$263,517

Cost breakdown

+Likely effective rent$2,190
HUD FMR$2,570
Market rentUsed$2,190
Est. payment standard (90%)$2,320
-Principal and interest-$1,332
Loan amount$210,813
Down payment$52,703
Rate6.50%
Term30 years
-Operating costs-$658
Property taxes-$264
Insurance-$175
Utilities$0
HOA$0
Management-$219
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$35,015(66.4% ROI)
Projected value
$283,779
Return breakdown
Property appreciation+$20,262
Loan principal paid down+$7,553
Rental cash flow+$7,200
5-year hold
+$60,097(114.0% ROI)
Projected value
$298,145
Return breakdown
Property appreciation+$34,628
Loan principal paid down+$13,469
Rental cash flow+$12,000
10-year hold
+$129,901(246.5% ROI)
Projected value
$337,324
Return breakdown
Property appreciation+$73,807
Loan principal paid down+$32,094
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.99
1 BR
1.19
2 BR
1.17
3 BR
1.24
4 BR
1.39
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60446 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60446 (Romeoville, IL) is $2,570 a month. That is up 11.3% from $2,310 in FY 2026. Romeoville 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, 60446 has the 9th-highest two-bedroom rent (county range $1,260–$3,030). The median county two-bedroom FMR in Illinois is $958, so ZIP 60446 is 168% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60446
BedroomsFY 2027Change90–110% range
Studio$2,140+11.5%$1,926–$2,354
1BR$2,270+10.7%$2,043–$2,497
2BR$2,570+11.3%$2,313–$2,827
3BR$3,300+11.1%$2,970–$3,630
4BR$3,770+9.6%$3,393–$4,147

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60446
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,140$2,270$2,570$3,300$3,770
FY 2026$1,920$2,050$2,310$2,970$3,440
FY 2025$1,910$2,050$2,310$2,970$3,490
FY 2024$1,870$2,010$2,290$2,920$3,450
FY 2023$1,560$1,690$1,940$2,460$2,930

Two-bedroom rent in nearby Will County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60446
60434$2,000−22.2%
60435$1,880−26.8%
60436$1,860−27.6%
60439$1,650−35.8%
60440$2,340−8.9%
60441$2,120−17.5%
60442$1,600−37.7%
60446Current$2,570—
60447$2,010−21.8%
60448$1,950−24.1%
60449$1,980−23.0%
60451$1,870−27.2%

Questions about ZIP 60446 rents

How much will Section 8 pay for a two-bedroom in ZIP 60446?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,570, that basic range is $2,313 to $2,827 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 60446 in?

ZIP 60446 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 60446 for FY 2027?

The two-bedroom FMR rose 11.3%, from $2,310 in FY 2026 to $2,570 in FY 2027. Since FY 2023 it has risen 32.5%.

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