What is the Fair Market Rent in Frankfort Township (Will County), IL?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home runs from $1,950 to $2,060 a month across the 3 ZIP codes that cover Frankfort Township (Will County).

By ZIP code: 60448 $1,950, 60423 $2,060, 60487 $1,970.

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 Frankfort Township (Will County) is $1,371 (±$146), below the Small Area figure for ZIP 60448.

Figures last updated on November 12, 2026.

2 bedrooms, whole area: $2,011
2 bedrooms, ZIP 60448: $1,950
2 bedrooms, ZIP 60423: $2,060
2 bedrooms, ZIP 60487: $1,970

Fair Market Rents for Frankfort Township (Will County), 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
	Studio	1 bedroom	2 bedrooms	3 bedrooms	4 bedrooms	Census median rent
Chicago-Joliet-Naperville, IL HUD Metro FMR Area (whole area)	$1,678	$1,780	$2,011	$2,586	$2,954	—
ZIP 60448 (66% of the ZIP’s land is in this place)	$1,630	$1,730	$1,950	$2,510	$2,860	$1,259
ZIP 60423 (55% of the ZIP’s land is in this place)	$1,720	$1,820	$2,060	$2,650	$3,030	$1,492
ZIP 60487 (41% of the ZIP’s land is in this place)	$1,640	$1,740	$1,970	$2,530	$2,890	$1,369

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 Frankfort Township (Will County)

What is the Section 8 payment standard in Frankfort Township (Will County)?

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 60448 is $1,950.

What is the Fair Market Rent for a two-bedroom in ZIP 60448?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60448 is $1,950 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,259 (±$121).

What is the Fair Market Rent for a two-bedroom in ZIP 60423?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60423 is $2,060 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,492 (±$353).

What is the Fair Market Rent for a two-bedroom in ZIP 60487?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 60487 is $1,970 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,369 (±$249).

What is the Fair Market Rent for a one-bedroom in Frankfort Township (Will County)?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 60448 is $1,730 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.