FY2027 Small Area FMR · Downers Grove, IL

ZIP 60516 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 60516 (Downers Grove, IL) is $2,300 a month, up 10.6% from FY2026. That is 14% above the Chicago-Joliet-Naperville, IL area-wide FMR of $2,011.

2-bedroom SAFMR$2,300per month ▲ 10.6%

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

Rank in the area109thof 370 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,070

2 BR Small Area FMR$2,300

110% of SAFMR$2,530

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

Studio$1,920▲ 11.0%

1 BR$2,040▲ 10.3%

2 BR$2,300▲ 10.6%

3 BR$2,960▲ 10.4%

4 BR$3,380▲ 9.0%

FY2027 FY2026

Where 60516 sits in the Chicago-Joliet-Naperville, IL area

Of the 370 ZIP codes HUD lists for the area, 60516 has the 109th 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 $2,070 and $2,530 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,920	$1,728 – $2,112	$1,678	$1,730
1 bedroom	$2,040	$1,836 – $2,244	$1,780	$1,850
2 bedrooms	$2,300	$2,070 – $2,530	$2,011	$2,080
3 bedrooms	$2,960	$2,664 – $3,256	$2,586	$2,680
4 bedrooms	$3,380	$3,042 – $3,718	$2,954	$3,100

A household renting a two-bedroom home at the Small Area FMR of $2,300 needs about $92,000 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 60516 lies mainly in DuPage 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
60561	Darien	2.0 mi	$2,510
60517	Woodridge	2.0 mi	$2,040
60559	Westmont	3.1 mi	$2,230
60515	Downers Grove	3.4 mi	$2,340
60514	Clarendon Hills	3.6 mi	$1,710
60532	Lisle	4.1 mi	$2,380

Questions

What is the Fair Market Rent for ZIP code 60516?

HUD's FY2027 Small Area Fair Market Rents for 60516 are $1,920 (studio), $2,040 (1 BR), $2,300 (2 BR), $2,960 (3 BR) and $3,380 (4 BR) a month.

What is the Section 8 payment standard in 60516?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 60516 that range is $2,070 to $2,530 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 60516?

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.