FMR is below market; voucher rent may lag private rents.
0.73
1 BR
1 BR- 61241
0.83ratio
FMR$840
Market$1,010
vs market-$170
FMR is below market; voucher rent may lag private rents.
0.83
2 BR
2 BR- 61241
0.94ratio
FMR$1,030
Market$1,100
vs market-$70
FMR is near market; voucher and private rents are aligned.
0.94
3 BR
3 BR- 61241
1.05ratio
FMR$1,350
Market$1,280
vs market+$70
FMR is near market; voucher and private rents are aligned.
1.05
4 BR
4 BR- 61241
1.12ratio
FMR$1,640
Market$1,470
vs market+$170
FMR is above market; underwrite to market rent.
1.12
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
--
Colona, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Colona, IL is $1,030 a month. That is down 7.2% from $1,110 in FY 2026. Colona is in the Davenport-Moline-Rock Island, IA-IL MSA. 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 metro-wide two-bedroom FMR of $1,056. The median county two-bedroom FMR in Illinois is $958, so Colona is 8% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Colona, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$790
$740
−6.3%
$666–$814
1BR
$900
$840
−6.7%
$756–$924
2BR
$1,110
$1,030
−7.2%
$927–$1,133
3BR
$1,450
$1,350
−6.9%
$1,215–$1,485
4BR
$1,770
$1,640
−7.3%
$1,476–$1,804
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Colona, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$740
$840
$1,030
$1,350
$1,640
FY 2026
$790
$900
$1,110
$1,450
$1,770
FY 2025
$680
$790
$980
$1,280
$1,510
FY 2024
$640
$760
$940
$1,230
$1,420
FY 2023
$590
$710
$880
$1,160
$1,310
Questions about Colona, IL rents
How much will Section 8 pay for a two-bedroom in Colona, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,056, which applies unless the housing authority uses Small Area FMRs, that basic range is $950 to $1,162 a month; under the ZIP-level Small Area FMR of $1,030 it would be $927 to $1,133. 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 Colona, IL in?
Colona, IL is in the Davenport-Moline-Rock Island, IA-IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,056.
How much did fair market rent change in Colona, IL for FY 2027?
The two-bedroom FMR fell 7.2%, from $1,110 in FY 2026 to $1,030 in FY 2027. Since FY 2023 it has risen 17.0%.
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