FMR is near market; voucher and private rents are aligned.
0.98
3 BR
3 BR- 60013
1.13ratio
FMR$2,730
Market$2,420
vs market+$310
FMR is above market; underwrite to market rent.
1.13
4 BR
4 BR- 60013
1.10ratio
FMR$3,110
Market$2,820
vs market+$290
FMR is above market; underwrite to market rent.
1.10
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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Cary, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Cary, IL is $2,120 a month. That is up 9.3% from $1,940 in FY 2026. Cary 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 Cary is 121% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Cary, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,610
$1,770
+9.9%
$1,593–$1,947
1BR
$1,720
$1,880
+9.3%
$1,692–$2,068
2BR
$1,940
$2,120
+9.3%
$1,908–$2,332
3BR
$2,500
$2,730
+9.2%
$2,457–$3,003
4BR
$2,890
$3,110
+7.6%
$2,799–$3,421
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Cary, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,770
$1,880
$2,120
$2,730
$3,110
FY 2026
$1,610
$1,720
$1,940
$2,500
$2,890
FY 2025
$1,600
$1,710
$1,930
$2,480
$2,910
FY 2024
$1,530
$1,640
$1,870
$2,380
$2,820
FY 2023
$1,240
$1,340
$1,540
$1,950
$2,320
Questions about Cary, IL rents
How much will Section 8 pay for a two-bedroom in Cary, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,120, that basic range is $1,908 to $2,332 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 Cary, IL in?
Cary, 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 Cary, IL for FY 2027?
The two-bedroom FMR rose 9.3%, from $1,940 in FY 2026 to $2,120 in FY 2027. Since FY 2023 it has risen 37.7%.
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