FY2027 Small Area FMR · Oak Park, IL

ZIP 60301 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 60301 (Oak Park, IL) is $3,020 a month, up 13.1% from FY2026. That is 50% above the Chicago-Joliet-Naperville, IL area-wide FMR of $2,011.

2-bedroom SAFMR$3,020per month ▲ 13.1%

Area-wide 2 BR FMR$2,011Chicago-Joliet-Naperville, I

Rank in the area2ndof 370 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,718

2 BR Small Area FMR$3,020

110% of SAFMR$3,322

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$2,520▲ 13.5%

1 BR$2,670▲ 12.7%

2 BR$3,020▲ 13.1%

3 BR$3,880▲ 12.8%

4 BR$4,440▲ 11.6%

FY2027 FY2026

Where 60301 sits in the Chicago-Joliet-Naperville, IL area

Of the 370 ZIP codes HUD lists for the area, 60301 has the 2nd highest two-bedroom Small Area FMR. Chicago-Joliet-Naperville, IL is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2016), so local housing agencies must set payment standards from this ZIP code's figure, normally between $2,718 and $3,322 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$2,520	$2,268 – $2,772	$1,678	$2,220
1 bedroom	$2,670	$2,403 – $2,937	$1,780	$2,370
2 bedrooms	$3,020	$2,718 – $3,322	$2,011	$2,670
3 bedrooms	$3,880	$3,492 – $4,268	$2,586	$3,440
4 bedrooms	$4,440	$3,996 – $4,884	$2,954	$3,980

A household renting a two-bedroom home at the Small Area FMR of $3,020 needs about $120,800 a year to keep housing costs at 30% of income. The area median family income is $121,500 and the 80% low-income limit for four people is $97,200. ZIP code 60301 lies mainly in Cook County. See the Chicago-Joliet-Naperville, IL metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
60302	Oak Park	0.6 mi	$2,010
60305	River Forest	1.1 mi	$2,010
60304	Oak Park	1.2 mi	$1,820
60130	Forest Park	1.8 mi	$1,900
60644	Chicago	2.3 mi	$1,640
60707	Elmwood Park	2.3 mi	$1,860

Questions

What is the Fair Market Rent for ZIP code 60301?

HUD's FY2027 Small Area Fair Market Rents for 60301 are $2,520 (studio), $2,670 (1 BR), $3,020 (2 BR), $3,880 (3 BR) and $4,440 (4 BR) a month.

What is the Section 8 payment standard in 60301?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 60301 that range is $2,718 to $3,322 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 60301?

The FY2026 income limits of the Chicago-Joliet-Naperville, IL area apply: median family income $121,500, low-income (80%) limit $97,200 for a family of four.