FMR is near market; voucher and private rents are aligned.
1.06
1 BR
1 BR- 60410
1.06ratio
FMR$1,970
Market$1,860
vs market+$110
FMR is near market; voucher and private rents are aligned.
1.06
2 BR
2 BR- 60410
1.23ratio
FMR$2,320
Market$1,890
vs market+$430
FMR is above market; underwrite to market rent.
1.23
3 BR
3 BR- 60410
1.47ratio
FMR$3,050
Market$2,080
vs market+$970
FMR is above market; underwrite to market rent.
1.47
4 BR
4 BR- 60410
1.51ratio
FMR$3,500
Market$2,320
vs market+$1,180
FMR is above market; underwrite to market rent.
1.51
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
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Channahon, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Channahon, IL is $2,320 a month. That is up 10.5% from $2,100 in FY 2026. Channahon 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 Channahon is 142% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Channahon, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,670
$1,870
+12.0%
$1,683–$2,057
1BR
$1,790
$1,970
+10.1%
$1,773–$2,167
2BR
$2,100
$2,320
+10.5%
$2,088–$2,552
3BR
$2,750
$3,050
+10.9%
$2,745–$3,355
4BR
$3,150
$3,500
+11.1%
$3,150–$3,850
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Channahon, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,870
$1,970
$2,320
$3,050
$3,500
FY 2026
$1,670
$1,790
$2,100
$2,750
$3,150
FY 2025
$1,660
$1,790
$2,110
$2,740
$3,070
FY 2024
$1,550
$1,680
$2,000
$2,570
$2,900
FY 2023
$1,260
$1,380
$1,630
$2,080
$2,390
Questions about Channahon, IL rents
How much will Section 8 pay for a two-bedroom in Channahon, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,320, that basic range is $2,088 to $2,552 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 Channahon, IL in?
Channahon, 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 Channahon, IL for FY 2027?
The two-bedroom FMR rose 10.5%, from $2,100 in FY 2026 to $2,320 in FY 2027. Since FY 2023 it has risen 42.3%.
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