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IL/Jackson County/Carterville

Carterville, IL

CitySAFMR
Jackson County
Found 1 ZIP

City Median Investment Score

85Below average

095130300
BRFMR
Eff. Rent
0 BR$750$750
1 BR$820$830
2 BR$1,070$970
3 BR$1,400$1,300
4 BR$1,410$1,420
5 BR$1,621Not available
6 BR$1,865Not available
7 BR$2,144Not available
8 BR$2,466Not available

Purchase Price Calculator

Maximum purchase price
$82,225

Cost breakdown

+Likely effective rent$970
HUD FMR$1,070
Market rentUsed$970
Est. payment standard (94%)$1,000
-Principal and interest-$416
Loan amount$65,780
Down payment$16,445
Rate6.50%
Term30 years
-Operating costs-$354
Property taxes-$82
Insurance-$175
Utilities$0
HOA$0
Management-$97
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,879(96.6% ROI)
Projected value
$88,547
Return breakdown
Property appreciation+$6,322
Loan principal paid down+$2,357
Rental cash flow+$7,200
5-year hold
+$27,008(164.2% ROI)
Projected value
$93,030
Return breakdown
Property appreciation+$10,805
Loan principal paid down+$4,203
Rental cash flow+$12,000
10-year hold
+$57,044(346.9% ROI)
Projected value
$105,255
Return breakdown
Property appreciation+$23,030
Loan principal paid down+$10,014
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.00
1 BR
0.99
2 BR
1.10
3 BR
1.08
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

Carterville, IL fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Carterville, IL is $1,070 a month. That is down 4.5% from $1,120 in FY 2026. Carterville is in the Jackson County, IL non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $930. The median county two-bedroom FMR in Illinois is $958, so Carterville is 12% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Carterville, IL
BedroomsFY 2027Change90–110% range
Studio$750−7.4%$675–$825
1BR$820−3.5%$738–$902
2BR$1,070−4.5%$963–$1,177
3BR$1,400−5.4%$1,260–$1,540
4BR$1,410−9.0%$1,269–$1,551

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Carterville, IL
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$750$820$1,070$1,400$1,410
FY 2026$810$850$1,120$1,480$1,550
FY 2025$860$880$1,150$1,580$1,720
FY 2024$830$830$1,090$1,460$1,740
FY 2023$750$750$990$1,310$1,640

Questions about Carterville, IL rents

How much will Section 8 pay for a two-bedroom in Carterville, IL?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $930, which applies unless the housing authority uses Small Area FMRs, that basic range is $837 to $1,023 a month; under the ZIP-level Small Area FMR of $1,070 it would be $963 to $1,177. 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 Carterville, IL in?

Carterville, IL is in the Jackson County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $930.

How much did fair market rent change in Carterville, IL for FY 2027?

The two-bedroom FMR fell 4.5%, from $1,120 in FY 2026 to $1,070 in FY 2027. Since FY 2023 it has risen 8.1%.

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