FMR is near market; voucher and private rents are aligned.
0.99
3 BR
3 BR- 60418
0.93ratio
FMR$2,290
Market$2,450
vs market-$160
FMR is near market; voucher and private rents are aligned.
0.93
4 BR
4 BR- 60418
0.98ratio
FMR$2,610
Market$2,670
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.98
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
--
Crestwood, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Crestwood, IL is $1,780 a month. That is up 13.4% from $1,570 in FY 2026. Crestwood 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 Crestwood is 86% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Crestwood, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,300
$1,490
+14.6%
$1,341–$1,639
1BR
$1,390
$1,580
+13.7%
$1,422–$1,738
2BR
$1,570
$1,780
+13.4%
$1,602–$1,958
3BR
$2,020
$2,290
+13.4%
$2,061–$2,519
4BR
$2,340
$2,610
+11.5%
$2,349–$2,871
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Crestwood, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,490
$1,580
$1,780
$2,290
$2,610
FY 2026
$1,300
$1,390
$1,570
$2,020
$2,340
FY 2025
$1,260
$1,350
$1,520
$1,950
$2,290
FY 2024
$1,370
$1,480
$1,680
$2,140
$2,530
FY 2023
$1,130
$1,230
$1,410
$1,790
$2,130
Questions about Crestwood, IL rents
How much will Section 8 pay for a two-bedroom in Crestwood, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,780, that basic range is $1,602 to $1,958 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 Crestwood, IL in?
Crestwood, 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 Crestwood, IL for FY 2027?
The two-bedroom FMR rose 13.4%, from $1,570 in FY 2026 to $1,780 in FY 2027. Since FY 2023 it has risen 26.2%.
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