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Iroquois County/Wellington/60973

60973

ZIPSAFMR
Iroquois County, IL
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$840$690
1 BR$850$690
2 BR$1,110$720
3 BR$1,380$770
4 BR$1,860$820
5 BR$2,139Not available
6 BR$2,460Not available
7 BR$2,829Not available
8 BR$3,253Not available

Purchase Price Calculator

Maximum purchase price
$45,075

Cost breakdown

+Likely effective rent$720
HUD FMR$1,110
Market rentUsed$720
Est. payment standard (90%)$1,000
-Principal and interest-$228
Loan amount$36,060
Down payment$9,015
Rate6.50%
Term30 years
-Operating costs-$292
Property taxes-$45
Insurance-$175
Utilities$0
HOA$0
Management-$72
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$11,958(132.6% ROI)
Projected value
$48,541
Return breakdown
Property appreciation+$3,466
Loan principal paid down+$1,292
Rental cash flow+$7,200
5-year hold
+$20,227(224.4% ROI)
Projected value
$50,998
Return breakdown
Property appreciation+$5,923
Loan principal paid down+$2,304
Rental cash flow+$12,000
10-year hold
+$42,115(467.2% ROI)
Projected value
$57,700
Return breakdown
Property appreciation+$12,625
Loan principal paid down+$5,490
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.22
1 BR
1.23
2 BR
1.54
3 BR
1.79
4 BR
2.27
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 60973 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 60973 (Wellington, IL) is $1,110 a month. That is up 8.8% from $1,020 in FY 2026. Wellington is in the Iroquois County, IL non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $930. Among 29 ZIP codes in Iroquois County, 60973 has the 4th-highest two-bedroom rent (county range $930–$1,290). The median county two-bedroom FMR in Illinois is $958, so ZIP 60973 is 16% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 60973
BedroomsFY 2027Change90–110% range
Studio$840+9.1%$756–$924
1BR$850+9.0%$765–$935
2BR$1,110+8.8%$999–$1,221
3BR$1,380+9.5%$1,242–$1,518
4BR$1,860+12.0%$1,674–$2,046

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 60973
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$840$850$1,110$1,380$1,860
FY 2026$770$780$1,020$1,260$1,660
FY 2025$720$730$960$1,180$1,390
FY 2024area FMR$605$619$813$1,025$1,112
FY 2023area FMR$584$588$774$998$1,042

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Iroquois County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 60973
60953$930−16.2%
60955$930−16.2%
60956$930−16.2%
60957$1,030−7.2%
60960$1,010−9.0%
60964$1,200+8.1%
60966$930−16.2%
60967$930−16.2%
60968$930−16.2%
60970$930−16.2%
60973Current$1,110—
60974$1,100−0.9%

Questions about ZIP 60973 rents

How much will Section 8 pay for a two-bedroom in ZIP 60973?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $930, which applies unless the housing authority uses Small Area FMRs, that basic range is $837 to $1,023 a month; under the ZIP-level Small Area FMR of $1,110 it would be $999 to $1,221. 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 60973 in?

ZIP 60973 is in the Iroquois County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $930.

How much did fair market rent change in ZIP 60973 for FY 2027?

The two-bedroom FMR rose 8.8%, from $1,020 in FY 2026 to $1,110 in FY 2027. Since FY 2025 it has risen 15.6%.

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