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Kankakee County/Bradley/60915

60915

ZIPSAFMR
Kankakee County, IL
Zillow

ZIP Investment Score

100Above average

095130300
BRFMR
Eff. Rent
0 BR$950$830
1 BR$1,050$950
2 BR$1,370$1,380
3 BR$1,800$1,830
4 BR$1,910$1,960
5 BR$2,197Not available
6 BR$2,526Not available
7 BR$2,905Not available
8 BR$3,341Not available

Purchase Price Calculator

Maximum purchase price
$143,151

Cost breakdown

+Likely effective rent$1,380
HUD FMR$1,370
Market rent$1,390
Est. payment standard (101%)Used$1,380
-Principal and interest-$724
Loan amount$114,521
Down payment$28,630
Rate6.50%
Term30 years
-Operating costs-$456
Property taxes-$143
Insurance-$175
Utilities$0
HOA$0
Management-$138
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,310(77.9% ROI)
Projected value
$154,158
Return breakdown
Property appreciation+$11,007
Loan principal paid down+$4,103
Rental cash flow+$7,200
5-year hold
+$38,128(133.2% ROI)
Projected value
$161,962
Return breakdown
Property appreciation+$18,811
Loan principal paid down+$7,317
Rental cash flow+$12,000
10-year hold
+$81,529(284.8% ROI)
Projected value
$183,245
Return breakdown
Property appreciation+$40,094
Loan principal paid down+$17,434
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.14
1 BR
1.11
2 BR
0.99
3 BR
0.98
4 BR
0.96
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60915 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60915 (Bradley, IL) is $1,370 a month. That is up 0.7% from $1,360 in FY 2026. Bradley is in the Kankakee, IL MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,349. Among 21 ZIP codes in Kankakee County, 60915 has the 9th-highest two-bedroom rent (county range $1,200–$1,720). The median county two-bedroom FMR in Illinois is $958, so ZIP 60915 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60915
BedroomsFY 2027Change90–110% range
Studio$950+1.1%$855–$1,045
1BR$1,050+1.0%$945–$1,155
2BR$1,370+0.7%$1,233–$1,507
3BR$1,800+0.6%$1,620–$1,980
4BR$1,910+4.9%$1,719–$2,101

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60915
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$950$1,050$1,370$1,800$1,910
FY 2026$940$1,040$1,360$1,790$1,820
FY 2025$890$990$1,300$1,720$1,730
FY 2024$810$910$1,200$1,620$1,670
FY 2023$740$840$1,100$1,500$1,580

Two-bedroom rent in nearby Kankakee County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60915
60901$1,290−5.8%
60910$1,200−12.4%
60913$1,350−1.5%
60914$1,530+11.7%
60915Current$1,370—
60917$1,320−3.6%
60919$1,200−12.4%
60922$1,250−8.8%
60935$1,410+2.9%
60940$1,500+9.5%
60941$1,290−5.8%
60950$1,260−8.0%

Questions about ZIP 60915 rents

How much will Section 8 pay for a two-bedroom in ZIP 60915?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,349, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,214 to $1,484 a month; under the ZIP-level Small Area FMR of $1,370 it would be $1,233 to $1,507. 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 60915 in?

ZIP 60915 is in the Kankakee, IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,349.

How much did fair market rent change in ZIP 60915 for FY 2027?

The two-bedroom FMR rose 0.7%, from $1,360 in FY 2026 to $1,370 in FY 2027. Since FY 2023 it has risen 24.5%.

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