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Cook County/Niles/60714

60714

ZIPSAFMR
Cook County, IL
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$1,460$1,530
1 BR$1,550$1,510
2 BR$1,750$1,930
3 BR$2,250$2,480
4 BR$2,570$2,830
5 BR$2,955Not available
6 BR$3,399Not available
7 BR$3,909Not available
8 BR$4,495Not available

Purchase Price Calculator

Maximum purchase price
$224,881

Cost breakdown

+Likely effective rent$1,930
HUD FMR$1,750
Market rent$2,370
Est. payment standard (110%)Used$1,930
-Principal and interest-$1,137
Loan amount$179,905
Down payment$44,976
Rate6.50%
Term30 years
-Operating costs-$593
Property taxes-$225
Insurance-$175
Utilities$0
HOA$0
Management-$193
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,937(68.8% ROI)
Projected value
$242,172
Return breakdown
Property appreciation+$17,291
Loan principal paid down+$6,446
Rental cash flow+$7,200
5-year hold
+$53,045(117.9% ROI)
Projected value
$254,432
Return breakdown
Property appreciation+$29,551
Loan principal paid down+$11,494
Rental cash flow+$12,000
10-year hold
+$114,374(254.3% ROI)
Projected value
$287,866
Return breakdown
Property appreciation+$62,986
Loan principal paid down+$27,388
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
1.03
2 BR
0.74
3 BR
0.80
4 BR
0.68
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60714 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60714 (Niles, IL) is $1,750 a month. That is up 12.2% from $1,560 in FY 2026. Niles 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, 60714 is tied for the 171st-highest two-bedroom rent (county range $1,100–$3,020). The median county two-bedroom FMR in Illinois is $958, so ZIP 60714 is 83% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60714
BedroomsFY 2027Change90–110% range
Studio$1,460+12.3%$1,314–$1,606
1BR$1,550+12.3%$1,395–$1,705
2BR$1,750+12.2%$1,575–$1,925
3BR$2,250+11.9%$2,025–$2,475
4BR$2,570+10.8%$2,313–$2,827

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60714
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,460$1,550$1,750$2,250$2,570
FY 2026$1,300$1,380$1,560$2,010$2,320
FY 2025$1,320$1,410$1,590$2,040$2,400
FY 2024$1,300$1,400$1,590$2,020$2,400
FY 2023$1,090$1,190$1,360$1,730$2,050

Two-bedroom rent in nearby Cook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60714
60689$1,980+13.1%
60690$1,980+13.1%
60693$1,980+13.1%
60694$1,980+13.1%
60695$1,980+13.1%
60697$1,980+13.1%
60699$1,980+13.1%
60701$1,980+13.1%
60706$1,740−0.6%
60707$1,860+6.3%
60712$3,020+72.6%
60714Current$1,750—

Questions about ZIP 60714 rents

How much will Section 8 pay for a two-bedroom in ZIP 60714?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,750, that basic range is $1,575 to $1,925 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 60714 in?

ZIP 60714 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 60714 for FY 2027?

The two-bedroom FMR rose 12.2%, from $1,560 in FY 2026 to $1,750 in FY 2027. Since FY 2023 it has risen 28.7%.

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