FMR is below market; voucher rent may lag private rents.
0.79
1 BR
1 BR- 60037
0.77ratio
FMR$1,800
Market$2,350
vs market-$550
FMR is below market; voucher rent may lag private rents.
0.77
2 BR
2 BR- 60037
0.67ratio
FMR$2,030
Market$3,010
vs market-$980
FMR is below market; voucher rent may lag private rents.
0.67
3 BR
3 BR- 60037
0.77ratio
FMR$2,610
Market$3,380
vs market-$770
FMR is below market; voucher rent may lag private rents.
0.77
4 BR
4 BR- 60037
0.55ratio
FMR$2,980
Market$5,400
vs market-$2,420
FMR is below market; voucher rent may lag private rents.
0.55
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
--
Fort Sheridan, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Fort Sheridan, IL is $2,030 a month. That is up 12.2% from $1,810 in FY 2026. Fort Sheridan 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 Fort Sheridan is 112% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Fort Sheridan, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,500
$1,690
+12.7%
$1,521–$1,859
1BR
$1,610
$1,800
+11.8%
$1,620–$1,980
2BR
$1,810
$2,030
+12.2%
$1,827–$2,233
3BR
$2,330
$2,610
+12.0%
$2,349–$2,871
4BR
$2,700
$2,980
+10.4%
$2,682–$3,278
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Fort Sheridan, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,690
$1,800
$2,030
$2,610
$2,980
FY 2026
$1,500
$1,610
$1,810
$2,330
$2,700
FY 2025
$1,480
$1,590
$1,790
$2,300
$2,700
FY 2024
$1,440
$1,550
$1,760
$2,240
$2,650
FY 2023
$1,190
$1,290
$1,480
$1,880
$2,230
Questions about Fort Sheridan, IL rents
How much will Section 8 pay for a two-bedroom in Fort Sheridan, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,030, that basic range is $1,827 to $2,233 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 Fort Sheridan, IL in?
Fort Sheridan, 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 Fort Sheridan, IL for FY 2027?
The two-bedroom FMR rose 12.2%, from $1,810 in FY 2026 to $2,030 in FY 2027. Since FY 2023 it has risen 37.2%.
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