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Cook County/Palos Park/60464

60464

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

90Below average

095130300
BRFMR
Eff. Rent
0 BR$1,750$1,720
1 BR$1,860$1,790
2 BR$2,100$2,130
3 BR$2,700$2,730
4 BR$3,080$3,390
5 BR$3,542Not available
6 BR$4,073Not available
7 BR$4,684Not available
8 BR$5,387Not available

Purchase Price Calculator

Maximum purchase price
$254,601

Cost breakdown

+Likely effective rent$2,130
HUD FMR$2,100
Market rent$2,140
Est. payment standard (101%)Used$2,130
-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
1.02
1 BR
1.04
2 BR
0.98
3 BR
0.99
4 BR
0.84
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60464 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60464 (Palos Park, IL) is $2,100 a month. That is down 7.1% from $2,260 in FY 2026. Palos Park 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, 60464 is tied for the 83rd-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60464 is 119% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60464
BedroomsFY 2027Change90–110% range
Studio$1,750−6.9%$1,575–$1,925
1BR$1,860−7.0%$1,674–$2,046
2BR$2,100−7.1%$1,890–$2,310
3BR$2,700−6.9%$2,430–$2,970
4BR$3,080−9.9%$2,772–$3,388

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60464
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,750$1,860$2,100$2,700$3,080
FY 2026$1,880$2,000$2,260$2,900$3,420
FY 2025$2,080$2,220$2,510$3,220$3,790
FY 2024$2,030$2,190$2,490$3,170$3,750
FY 2023$1,710$1,850$2,120$2,690$3,200

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60464
60457$1,520−27.6%
60458$1,740−17.1%
60459$1,750−16.7%
60461$2,410+14.8%
60462$1,960−6.7%
60463$2,620+24.8%
60464Current$2,100—
60465$1,780−15.2%
60466$1,980−5.7%
60467$2,880+37.1%
60469$1,910−9.0%
60471$1,880−10.5%

Questions about ZIP 60464 rents

How much will Section 8 pay for a two-bedroom in ZIP 60464?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,100, that basic range is $1,890 to $2,310 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 60464 in?

ZIP 60464 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 60464 for FY 2027?

The two-bedroom FMR fell 7.1%, from $2,260 in FY 2026 to $2,100 in FY 2027. Since FY 2023 it has fallen 0.9%.

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