What is the Fair Market Rent in Elgin Township, IL?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home runs from $1,790 to $2,690 a month across the 3 ZIP codes that cover Elgin Township.

By ZIP code: 60123 $1,790, 60177 $2,280, 60124 $2,690.

Across the whole Chicago-Joliet-Naperville, IL HUD Metro FMR Area the two-bedroom figure is $2,011.

The Census Bureau’s median gross rent for a two-bedroom home in Elgin Township is $1,408 (±$43), below the Small Area figure for ZIP 60123.

Figures last updated on .

2 bedrooms, whole area
$2,011
2 bedrooms, ZIP 60123
$1,790
2 bedrooms, ZIP 60177
$2,280
2 bedrooms, ZIP 60124
$2,690

Fair Market Rents for Elgin Township, fiscal year 2027

HUD Fair Market Rent, dollars a month (gross rent, including utilities), beside the Census Bureau’s median gross rent for each ZIP code
Studio1 bedroom2 bedrooms3 bedrooms4 bedroomsCensus median rent
Chicago-Joliet-Naperville, IL HUD Metro FMR Area (whole area)$1,678$1,780$2,011$2,586$2,954—
ZIP 60123 (87% of the ZIP’s land is in this place)$1,490$1,580$1,790$2,300$2,630$1,292
ZIP 60177 (60% of the ZIP’s land is in this place)$1,900$2,020$2,280$2,930$3,350$1,634
ZIP 60124 (27% of the ZIP’s land is in this place)$2,240$2,380$2,690$3,460$3,950$1,957

A Fair Market Rent is HUD’s estimate of the gross rent (shelter plus utilities) of a modest rental home in the area.

Whether a housing authority uses the ZIP code (Small Area) figures or the area-wide one depends on whether HUD has designated the area for Small Area FMRs or the authority has opted in; ask the local housing authority which applies.

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Questions about Elgin Township

What is the Section 8 payment standard in Elgin Township?

Housing authorities set payment standards between 90% and 110% of HUD’s Fair Market Rent; for fiscal year 2027, the two-bedroom Fair Market Rent for the Chicago-Joliet-Naperville, IL HUD Metro FMR Area is $2,011, and the Small Area figure for 60123 is $1,790.

What is the Fair Market Rent for a two-bedroom in ZIP 60123?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60123 is $1,790 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,292 (±$79).

What is the Fair Market Rent for a two-bedroom in ZIP 60177?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60177 is $2,280 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,634 (±$113).

What is the Fair Market Rent for a two-bedroom in ZIP 60124?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60124 is $2,690 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,957 (±$225).

What is the Fair Market Rent for a one-bedroom in Elgin Township?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 60123 is $1,580 a month, against $1,780 across the Chicago-Joliet-Naperville, IL HUD Metro FMR Area.

Sources

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.

Figures last updated on .

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