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Cook County/Chicago/60612

60612

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

93Below average

095130300
BRFMR
Eff. Rent
0 BR$1,780$1,630
1 BR$1,890$1,780
2 BR$2,130$2,150
3 BR$2,740$2,360
4 BR$3,130$2,820
5 BR$3,599Not available
6 BR$4,139Not available
7 BR$4,760Not available
8 BR$5,474Not available

Purchase Price Calculator

Maximum purchase price
$257,573

Cost breakdown

+Likely effective rent$2,150
HUD FMR$2,130
Market rent$2,160
Est. payment standard (101%)Used$2,150
-Principal and interest-$1,302
Loan amount$206,058
Down payment$51,515
Rate6.50%
Term30 years
-Operating costs-$648
Property taxes-$258
Insurance-$175
Utilities$0
HOA$0
Management-$215
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,387(66.8% ROI)
Projected value
$277,378
Return breakdown
Property appreciation+$19,805
Loan principal paid down+$7,383
Rental cash flow+$7,200
5-year hold
+$59,012(114.6% ROI)
Projected value
$291,420
Return breakdown
Property appreciation+$33,847
Loan principal paid down+$13,165
Rental cash flow+$12,000
10-year hold
+$127,512(247.5% ROI)
Projected value
$329,715
Return breakdown
Property appreciation+$72,142
Loan principal paid down+$31,370
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.09
1 BR
1.06
2 BR
0.99
3 BR
1.16
4 BR
1.11
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60612 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60612 (Chicago, IL) is $2,130 a month. That is up 15.8% from $1,840 in FY 2026. Chicago 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, 60612 is tied for the 81st-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60612 is 122% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60612
BedroomsFY 2027Change90–110% range
Studio$1,780+16.3%$1,602–$1,958
1BR$1,890+16.0%$1,701–$2,079
2BR$2,130+15.8%$1,917–$2,343
3BR$2,740+15.6%$2,466–$3,014
4BR$3,130+14.2%$2,817–$3,443

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60612
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,780$1,890$2,130$2,740$3,130
FY 2026$1,530$1,630$1,840$2,370$2,740
FY 2025$1,480$1,590$1,790$2,300$2,700
FY 2024$1,450$1,560$1,770$2,250$2,670
FY 2023$1,240$1,340$1,540$1,950$2,320

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60612
60606$3,020+41.8%
60607$3,020+41.8%
60608$1,730−18.8%
60609$1,500−29.6%
60610$3,020+41.8%
60611$3,020+41.8%
60612Current$2,130—
60613$2,910+36.6%
60614$3,020+41.8%
60615$2,440+14.6%
60616$2,270+6.6%
60617$1,520−28.6%

Questions about ZIP 60612 rents

How much will Section 8 pay for a two-bedroom in ZIP 60612?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,130, that basic range is $1,917 to $2,343 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 60612 in?

ZIP 60612 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 60612 for FY 2027?

The two-bedroom FMR rose 15.8%, from $1,840 in FY 2026 to $2,130 in FY 2027. Since FY 2023 it has risen 38.3%.

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