The highest two-bedroom figure on the federal rent schedule for Chicago’s core ZIP codes is $2,670 a month for fiscal year 2026 — and 14 ZIPs across downtown, the Near North and Near West Sides, and the North Side share that value exactly, because HUD caps every small-area figure at 150 percent of the metro-wide rent ($1,781, rounded to the nearest $10). The lowest among the 60 core ZIPs tracked is $1,290, in 60609 (Back of the Yards). These figures are HUD’s Small Area Fair Market Rents: the agency’s estimate of gross rent — rent plus utilities — at the 40th percentile of what recent movers pay in each ZIP, the schedule voucher agencies in HUD’s designated areas, Chicago included, must use to set Housing Choice Voucher payment standards. It is a federal schedule, never a list of asking rents, and this page covers the 60 core city ZIPs our full analysis tracks across both years. We report what the schedule says, taking no position on where anyone should live.
The 14 ZIPs at the schedule’s ceiling
Fourteen ZIP codes carry the FY2026 two-bedroom value of $2,670: 60601, 60602, 60603, 60604, 60605, 60606, 60607, 60610, 60611, 60614, 60642, 60654, 60657, 60661. The tie is the cap’s work, and the arithmetic checks out exactly: the Chicago-area metro two-bedroom rent is $1,781, and 150 percent of $1,781, rounded to the nearest $10, is $2,670. Where the cap binds, the schedule stops distinguishing between ZIPs — a capped ZIP’s underlying estimate could sit anywhere at or above the ceiling, and the file does not say where.
The five lowest ZIPs on the schedule
1. ZIP 60609 — $1,290
The FY2026 two-bedroom schedule figure for 60609 (Back of the Yards) is $1,290 a month, the lowest of the 60 core ZIPs tracked — up from $900 in FY2019.
2. ZIP 60632 — $1,300
The FY2026 two-bedroom schedule figure for 60632 is $1,300 a month, No. 2 lowest — up from $960 in FY2019.
3. ZIP 60617 — $1,310
The FY2026 two-bedroom schedule figure for 60617 is $1,310 a month, No. 3 lowest — up from $950 in FY2019.
4. ZIP 60623 — $1,320
The FY2026 two-bedroom schedule figure for 60623 is $1,320 a month, tied for fourth-lowest with 60636 — up from $900 in FY2019.
5. ZIP 60636 — $1,320
The FY2026 two-bedroom schedule figure for 60636 is $1,320 a month, tied for fourth-lowest with 60623 — up from $1,010 in FY2019.
Questions these numbers can answer
What is the most expensive ZIP code in Chicago for rent? On HUD’s FY2026 schedule, no single ZIP holds the top: 14 ZIPs across downtown, the Near North and Near West Sides, and the North Side share the capped maximum of $2,670 for a two-bedroom. The schedule reflects estimated recent-mover rents with a 150-percent-of-metro ceiling — actual asking rents in those ZIPs can run higher, and this file does not measure them.
Where is rent lowest in Chicago? On the same schedule, 60609 (Back of the Yards) carries the lowest two-bedroom figure of the 60 core ZIPs tracked: $1,290 a month for FY2026, up from $900 in FY2019.
What is a Fair Market Rent? HUD’s estimate of gross rent — rent plus utilities — at the 40th percentile of what recent movers pay, published every federal fiscal year. Small Area Fair Market Rents compute it per ZIP code, and voucher agencies in HUD’s designated areas, Chicago included, must use them to set Housing Choice Voucher payment standards.
How much did the schedule rise since 2019? The median two-bedroom figure across the 60 matched core ZIPs went from $1,195 (FY2019) to $1,750 (FY2026) — up 46 percent.
Where these numbers come from
HUD’s FY2026 Small Area Fair Market Rents and the revised FY2019 schedule, both published at huduser.gov and retrieved August 2, 2026; the 150-percent cap rule is stated in HUD’s own FY26 SAFMR methodology, and the metro figure comes from its FY2026 FMR file. Scope: the 60 ZIPs beginning 606 (plus 60827) present in both years’ schedules — city-of-Chicago ZIPs, a few of which straddle the city limits. Figures are the schedule’s published values, unadjusted. The verified cap chain, the full 60-ZIP lookup, and the key caveats: The Federal Rent Schedule for Chicago, ZIP by ZIP.
Computed by KCM Desk from schedules current to August 2, 2026. If you spot an error, corrections come first.