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Cook County/Chicago/60639

60639

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

123Above average

095130300
BRFMR
Eff. Rent
0 BR$1,470$1,210
1 BR$1,560$1,420
2 BR$1,760$1,740
3 BR$2,260$2,320
4 BR$2,590$2,780
5 BR$2,978Not available
6 BR$3,425Not available
7 BR$3,939Not available
8 BR$4,530Not available

Purchase Price Calculator

Maximum purchase price
$196,647

Cost breakdown

+Likely effective rent$1,740
HUD FMR$1,760
Market rentUsed$1,740
Est. payment standard (99%)$1,750
-Principal and interest-$994
Loan amount$157,317
Down payment$39,329
Rate6.50%
Term30 years
-Operating costs-$546
Property taxes-$197
Insurance-$175
Utilities$0
HOA$0
Management-$174
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,957(71.1% ROI)
Projected value
$211,767
Return breakdown
Property appreciation+$15,120
Loan principal paid down+$5,636
Rental cash flow+$7,200
5-year hold
+$47,892(121.8% ROI)
Projected value
$222,488
Return breakdown
Property appreciation+$25,841
Loan principal paid down+$10,051
Rental cash flow+$12,000
10-year hold
+$103,028(262.0% ROI)
Projected value
$251,725
Return breakdown
Property appreciation+$55,078
Loan principal paid down+$23,950
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.21
1 BR
1.10
2 BR
1.01
3 BR
0.96
4 BR
0.90
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60639 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60639 (Chicago, IL) is $1,760 a month. That is up 12.8% from $1,560 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, 60639 has the 170th-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60639 is 84% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60639
BedroomsFY 2027Change90–110% range
Studio$1,470+13.1%$1,323–$1,617
1BR$1,560+13.0%$1,404–$1,716
2BR$1,760+12.8%$1,584–$1,936
3BR$2,260+12.4%$2,034–$2,486
4BR$2,590+11.6%$2,331–$2,849

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60639
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,470$1,560$1,760$2,260$2,590
FY 2026$1,300$1,380$1,560$2,010$2,320
FY 2025$1,270$1,360$1,530$1,970$2,310
FY 2024$1,230$1,330$1,510$1,920$2,280
FY 2023$1,030$1,120$1,280$1,620$1,930

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60639
60633$1,620−8.0%
60634$1,930+9.7%
60636$1,620−8.0%
60637$1,740−1.1%
60638$1,830+4.0%
60639Current$1,760—
60640$2,600+47.7%
60641$1,970+11.9%
60642$3,020+71.6%
60643$1,880+6.8%
60644$1,640−6.8%
60645$2,150+22.2%

Questions about ZIP 60639 rents

How much will Section 8 pay for a two-bedroom in ZIP 60639?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,760, that basic range is $1,584 to $1,936 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 60639 in?

ZIP 60639 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 60639 for FY 2027?

The two-bedroom FMR rose 12.8%, from $1,560 in FY 2026 to $1,760 in FY 2027. Since FY 2023 it has risen 37.5%.

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