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Cook County/CHICAGO/60640

60640

ZIPSAFMR
Cook County, IL
Zillow
BRFMR
Eff. Rent
0 BR$1,910▲$1,360
1 BR$2,040▲$1,900
2 BR$2,300▲$2,260
3 BR$2,960▲$2,860
4 BR$3,430▲$2,470
5 BR$3,944▲—
6 BR$4,536▲—
7 BR$5,217▲—
8 BR$5,999▲—

Purchase Price Calculator

Maximum purchase price
$273,919

Cost breakdown

+Likely effective rent$2,260
HUD FMR$2,300
Market rentUsed$2,260
Est. payment standard (99%)$2,270
Market rent is below the inferred standard ($2,270, 99% of FMR).
-Principal and interest-$1,385
Loan amount$219,135
Down payment$54,784
Rate6.50%
Term30 years
-Operating costs-$675
Property taxes-$274
Insurance-$175
Utilities$0
HOA$0
Management-$226
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$36,113(65.9% ROI)
Projected value
$294,980
Current value$273,919
Return breakdown
Property appreciation+$21,062
Loan principal paid down+$7,851
Rental cash flow+$7,200
5-year hold
+$61,996(113.2% ROI)
Projected value
$309,914
Current value$273,919
Return breakdown
Property appreciation+$35,995
Loan principal paid down+$14,001
Rental cash flow+$12,000
10-year hold
+$134,081(244.7% ROI)
Projected value
$350,639
Current value$273,919
Return breakdown
Property appreciation+$76,720
Loan principal paid down+$33,361
Rental cash flow+$24,000

Market Alignment

FMR / market rent by bedroom; grey wings show the 90-110% payment-standard spread.

Studio
Studio
1.40ratio
FMR$1,910
Market$1,360
vs market+$550

FMR is above market; underwrite to market rent.

90% standard$1,719 / 1.26 ratio110% standard$2,101 / 1.54 ratio
1.40
1 BR
1 BR
1.07ratio
FMR$2,040
Market$1,900
vs market+$140

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

90% standard$1,836 / 0.97 ratio110% standard$2,244 / 1.18 ratio
1.07
2 BR
2 BR
1.02ratio
FMR$2,300
Market$2,260
vs market+$40

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

90% standard$2,070 / 0.92 ratio110% standard$2,530 / 1.12 ratio
1.02
3 BR
3 BR
1.03ratio
FMR$2,960
Market$2,860
vs market+$100

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

90% standard$2,664 / 0.93 ratio110% standard$3,256 / 1.14 ratio
1.03
4 BR
4 BR
1.39ratio
FMR$3,430
Market$2,470
vs market+$960

FMR is above market; underwrite to market rent.

90% standard$3,087 / 1.25 ratio110% standard$3,773 / 1.53 ratio
1.39
0.700.800.901.001.101.201.30aligned range

HUD benchmarks exceed market rents for larger unit sizes.

Historical
FY 2022-2026

Data freshness

FMR
FY2026
Market rent
last ~365 days
About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for 60640 (IL) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled SAFMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.

What is FMR?What is SAFMR?Data sourcesIncomplete geosView county page

60640 fair market rent benchmarks

The FY 2026 HUD Small Area Fair Market Rent (SAFMR) page for 60640 shows monthly rent benchmarks by bedroom size for Housing Choice Voucher and Section 8 comparisons. The 2 bedroom fair market rent is $2,300 and the 4 bedroom fair market rent is $3,430.

Use these values to compare bedroom-size rent benchmarks and screen a property's rent assumptions. Local housing authorities set voucher payment standards, which may be above or below published HUD FMR, so confirm the applicable authority and current schedule before underwriting a property. Read the FMR and payment-standard guide for the full verification workflow.

FY 2026 Fair Market Rent by bedroom size for 60640
Bedroom sizeHUD FMR
Studio$1,910
1 bedroom$2,040
2 bedroom$2,300
3 bedroom$2,960
4 bedroom$3,430
Cook County fair market rentCHICAGO, IL fair market rent