Kane County/Aurora/60506

60506

ZIPSAFMR

Kane County, IL

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ZIP Investment Score

117Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,530	$1,360	4.0%
1 BR	$1,620	$1,620	3.5%
2 BR	$1,830	$1,900	3.3%
3 BR	$2,350	$2,310	3.7%
4 BR	$2,690	$2,450	2.5%
5 BR	$3,093	Not available	2.5%
6 BR	$3,558	Not available	2.5%
7 BR	$4,091	Not available	2.5%
8 BR	$4,705	Not available	2.5%

Purchase Price Calculator

Maximum purchase price

$220,423

Cost breakdown

+Likely effective rent$1,900

HUD FMR$1,830

Market rent$1,930

Est. payment standard (104%)Used$1,900

-Principal and interest-$1,115

Loan amount$176,338

Down payment$44,085

Rate6.50%

Term30 years

-Operating costs-$585

Property taxes-$220

Insurance-$175

Utilities$0

HOA$0

Management-$190

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$30,466(69.1% ROI)

Projected value

$237,371

Return breakdown

Property appreciation+$16,948

Loan principal paid down+$6,318

Rental cash flow+$7,200

5-year hold

+$52,232(118.5% ROI)

Projected value

$249,388

Return breakdown

Property appreciation+$28,965

Loan principal paid down+$11,266

Rental cash flow+$12,000

10-year hold

+$112,583(255.4% ROI)

Projected value

$282,160

Return breakdown

Property appreciation+$61,737

Loan principal paid down+$26,846

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.13ratio

FMR$1,530

Market$1,360

vs market+$170

FMR is above market; underwrite to market rent.

1.13

1 BR

1.00ratio

FMR$1,620

Market$1,620

vs market+$0

FMR is near market; voucher and private rents are aligned.

1.00

2 BR

0.95ratio

FMR$1,830

Market$1,930

vs market-$100

FMR is near market; voucher and private rents are aligned.

0.95

3 BR

1.02ratio

FMR$2,350

Market$2,310

vs market+$40

FMR is near market; voucher and private rents are aligned.

1.02

4 BR

1.10ratio

FMR$2,690

Market$2,450

vs market+$240

FMR is near market; voucher and private rents are aligned.

1.10

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 60506 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60506 (Aurora, IL) is $1,830 a month. That is up 8.3% from $1,690 in FY 2026. Aurora 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 42 ZIP codes in Kane County, 60506 is tied for the 34th-highest two-bedroom rent (county range $1,510–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60506 is 91% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60506
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,400	$1,530	+9.3%	$1,377–$1,683
1BR	$1,500	$1,620	+8.0%	$1,458–$1,782
2BR	$1,690	$1,830	+8.3%	$1,647–$2,013
3BR	$2,180	$2,350	+7.8%	$2,115–$2,585
4BR	$2,520	$2,690	+6.7%	$2,421–$2,959

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60506
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,530	$1,620	$1,830	$2,350	$2,690
FY 2026	$1,400	$1,500	$1,690	$2,180	$2,520
FY 2025	$1,380	$1,480	$1,670	$2,150	$2,520
FY 2024	$1,360	$1,460	$1,660	$2,110	$2,500
FY 2023	$1,130	$1,220	$1,400	$1,780	$2,110

Two-bedroom rent in nearby Kane County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 60506
60502	$2,730	+49.2%
60503	$2,910	+59.0%
60504	$2,700	+47.5%
60505	$1,810	−1.1%
60506Current	$1,830	—
60507	$1,980	+8.2%
60510	$1,800	−1.6%
60511	$1,990	+8.7%
60520	$2,080	+13.7%
60538	$2,410	+31.7%
60539	$1,990	+8.7%
60542	$2,300	+25.7%

Questions about ZIP 60506 rents

How much will Section 8 pay for a two-bedroom in ZIP 60506?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,830, that basic range is $1,647 to $2,013 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 60506 in?

ZIP 60506 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 60506 for FY 2027?

The two-bedroom FMR rose 8.3%, from $1,690 in FY 2026 to $1,830 in FY 2027. Since FY 2023 it has risen 30.7%.

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 rent Aurora, IL fair market rent IL statewide rents What is SAFMR?Data sources