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Cook County/Chicago/60618

60618

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

58Below average

095130300
BRFMR
Eff. Rent
0 BR$1,940$1,700
1 BR$2,060$1,870
2 BR$2,330$2,100
3 BR$3,000$2,700
4 BR$3,420$3,090
5 BR$3,933Not available
6 BR$4,523Not available
7 BR$5,201Not available
8 BR$5,982Not available

Purchase Price Calculator

Maximum purchase price
$250,143

Cost breakdown

+Likely effective rent$2,100
HUD FMR$2,330
Market rentUsed$2,100
Est. payment standard (94%)$2,180
-Principal and interest-$1,265
Loan amount$200,114
Down payment$50,029
Rate6.50%
Term30 years
-Operating costs-$635
Property taxes-$250
Insurance-$175
Utilities$0
HOA$0
Management-$210
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,603(67.2% ROI)
Projected value
$269,376
Return breakdown
Property appreciation+$19,234
Loan principal paid down+$7,170
Rental cash flow+$7,200
5-year hold
+$57,656(115.2% ROI)
Projected value
$283,013
Return breakdown
Property appreciation+$32,871
Loan principal paid down+$12,785
Rental cash flow+$12,000
10-year hold
+$124,526(248.9% ROI)
Projected value
$320,204
Return breakdown
Property appreciation+$70,061
Loan principal paid down+$30,465
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.14
1 BR
1.10
2 BR
1.11
3 BR
1.11
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 60618 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60618 (Chicago, IL) is $2,330 a month. That is up 17.1% from $1,990 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, 60618 has the 62nd-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60618 is 143% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60618
BedroomsFY 2027Change90–110% range
Studio$1,940+17.6%$1,746–$2,134
1BR$2,060+16.4%$1,854–$2,266
2BR$2,330+17.1%$2,097–$2,563
3BR$3,000+17.2%$2,700–$3,300
4BR$3,420+15.5%$3,078–$3,762

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60618
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,940$2,060$2,330$3,000$3,420
FY 2026$1,650$1,770$1,990$2,560$2,960
FY 2025$1,580$1,690$1,910$2,450$2,880
FY 2024$1,500$1,620$1,840$2,340$2,770
FY 2023$1,250$1,360$1,560$1,980$2,350

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60618
60612$2,130−8.6%
60613$2,910+24.9%
60614$3,020+29.6%
60615$2,440+4.7%
60616$2,270−2.6%
60617$1,520−34.8%
60618Current$2,330—
60619$1,640−29.6%
60620$1,640−29.6%
60621$1,530−34.3%
60622$2,810+20.6%
60623$1,530−34.3%

Questions about ZIP 60618 rents

How much will Section 8 pay for a two-bedroom in ZIP 60618?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,330, that basic range is $2,097 to $2,563 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 60618 in?

ZIP 60618 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 60618 for FY 2027?

The two-bedroom FMR rose 17.1%, from $1,990 in FY 2026 to $2,330 in FY 2027. Since FY 2023 it has risen 49.4%.

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