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Cook County, IL · Chicago-Naperville-Elgin, IL-IN
HUD benchmark for 60601 (per month)
0-bedroom unit
4-bedroom unit
Fair Market Rent is set at the 40th-percentile of recent local mover rents.
| Bedrooms | Monthly rent |
|---|---|
| Studio (0-BR) | $2,220 |
| 1-Bedroom | $2,370 |
| 2-Bedroom | $2,670 |
| 3-Bedroom | $3,440 |
| 4-Bedroom | $3,980 |
Fair Market Rent (FMR) is the rent — including utilities other than electricity — at which HUD assumes a standard-quality unit in this area could be rented. It's the 40th percentile of recent local mover rents, updated every fiscal year.
FMR is the figure HUD itself uses to set Section 8 voucher payments. It tends to track market rent closely but lags by ~6 months because it's built on the prior year's mover surveys.