FMR is near market; voucher and private rents are aligned.
1.05
1 BR
1 BR- 60408
1.11ratio
FMR$1,410
Market$1,270
vs market+$140
FMR is above market; underwrite to market rent.
1.11
2 BR
2 BR- 60408
1.08ratio
FMR$1,590
Market$1,470
vs market+$120
FMR is near market; voucher and private rents are aligned.
1.08
3 BR
3 BR- 60408
1.15ratio
FMR$2,040
Market$1,770
vs market+$270
FMR is above market; underwrite to market rent.
1.15
4 BR
4 BR- 60408
1.29ratio
FMR$2,340
Market$1,810
vs market+$530
FMR is above market; underwrite to market rent.
1.29
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Braidwood, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Braidwood, IL is $1,590 a month. That is up 5.3% from $1,510 in FY 2026. Braidwood is in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Illinois is $958, so Braidwood is 66% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Braidwood, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,250
$1,330
+6.4%
$1,197–$1,463
1BR
$1,340
$1,410
+5.2%
$1,269–$1,551
2BR
$1,510
$1,590
+5.3%
$1,431–$1,749
3BR
$1,940
$2,040
+5.2%
$1,836–$2,244
4BR
$2,250
$2,340
+4.0%
$2,106–$2,574
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Braidwood, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,330
$1,410
$1,590
$2,040
$2,340
FY 2026
$1,250
$1,340
$1,510
$1,940
$2,250
FY 2025
$1,280
$1,370
$1,550
$1,990
$2,340
FY 2024
$1,220
$1,310
$1,490
$1,900
$2,250
FY 2023
$990
$1,070
$1,230
$1,560
$1,860
Questions about Braidwood, IL rents
How much will Section 8 pay for a two-bedroom in Braidwood, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,590, that basic range is $1,431 to $1,749 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Braidwood, IL in?
Braidwood, IL is in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Braidwood, IL for FY 2027?
The two-bedroom FMR rose 5.3%, from $1,510 in FY 2026 to $1,590 in FY 2027. Since FY 2023 it has risen 29.3%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set