Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Deer Creek, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Deer Creek, IL is $1,440 a month. That is up 15.2% from $1,250 in FY 2026. Deer Creek is in the Peoria, 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 $1,212. The median county two-bedroom FMR in Illinois is $958, so Deer Creek is 50% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Deer Creek, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$910
$1,090
+19.8%
$981–$1,199
1BR
$980
$1,140
+16.3%
$1,026–$1,254
2BR
$1,250
$1,440
+15.2%
$1,296–$1,584
3BR
$1,620
$1,850
+14.2%
$1,665–$2,035
4BR
$1,740
$2,030
+16.7%
$1,827–$2,233
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Deer Creek, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,090
$1,140
$1,440
$1,850
$2,030
FY 2026
$910
$980
$1,250
$1,620
$1,740
FY 2025
$860
$950
$1,200
$1,560
$1,630
FY 2024
$810
$890
$1,140
$1,490
$1,530
FY 2023
$740
$810
$1,030
$1,340
$1,390
Questions about Deer Creek, IL rents
How much will Section 8 pay for a two-bedroom in Deer Creek, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,212, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,091 to $1,333 a month; under the ZIP-level Small Area FMR of $1,440 it would be $1,296 to $1,584. 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 Deer Creek, IL in?
Deer Creek, IL is in the Peoria, IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,212.
How much did fair market rent change in Deer Creek, IL for FY 2027?
The two-bedroom FMR rose 15.2%, from $1,250 in FY 2026 to $1,440 in FY 2027. Since FY 2023 it has risen 39.8%.
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