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Will County/Plainfield/60544

60544

ZIPSAFMR
Will County, IL
Zillow

ZIP Investment Score

113Above average

095130300
BRFMR
Eff. Rent
0 BR$2,250$1,810
1 BR$2,390$1,910
2 BR$2,700$2,190
3 BR$3,470$2,600
4 BR$3,960$3,140
5 BR$4,554Not available
6 BR$5,237Not available
7 BR$6,023Not available
8 BR$6,926Not available

Purchase Price Calculator

Maximum purchase price
$263,517

Cost breakdown

+Likely effective rent$2,190
HUD FMR$2,700
Market rentUsed$2,190
Est. payment standard (90%)$2,430
-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
1.24
1 BR
1.25
2 BR
1.23
3 BR
1.33
4 BR
1.26
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60544 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60544 (Plainfield, IL) is $2,700 a month. That is up 15.9% from $2,330 in FY 2026. Plainfield 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, 60544 has the 8th-highest two-bedroom rent (county range $1,260–$3,030). The median county two-bedroom FMR in Illinois is $958, so ZIP 60544 is 182% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60544
BedroomsFY 2027Change90–110% range
Studio$2,250+16.6%$2,025–$2,475
1BR$2,390+16.0%$2,151–$2,629
2BR$2,700+15.9%$2,430–$2,970
3BR$3,470+15.7%$3,123–$3,817
4BR$3,960+14.5%$3,564–$4,356

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60544
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,250$2,390$2,700$3,470$3,960
FY 2026$1,930$2,060$2,330$3,000$3,460
FY 2025$1,930$2,070$2,340$3,000$3,520
FY 2024$1,920$2,070$2,350$3,000$3,550
FY 2023$1,660$1,800$2,060$2,620$3,110

Two-bedroom rent in nearby Will County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60544
60487$1,970−27.0%
60490$3,020+11.9%
60491$2,340−13.3%
60503$2,910+7.8%
60517$2,040−24.4%
60543$2,090−22.6%
60544Current$2,700—
60564$3,020+11.9%
60565$2,490−7.8%
60567$2,230−17.4%
60585$3,030+12.2%
60586$2,950+9.3%

Questions about ZIP 60544 rents

How much will Section 8 pay for a two-bedroom in ZIP 60544?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,700, that basic range is $2,430 to $2,970 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 60544 in?

ZIP 60544 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 60544 for FY 2027?

The two-bedroom FMR rose 15.9%, from $2,330 in FY 2026 to $2,700 in FY 2027. Since FY 2023 it has risen 31.1%.

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