FMR is below market; voucher rent may lag private rents.
0.68
2 BR
2 BR- 60135
0.78ratio
FMR$1,510
Market$1,930
vs market-$420
FMR is below market; voucher rent may lag private rents.
0.78
3 BR
3 BR- 60135
1.01ratio
FMR$2,050
Market$2,030
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.01
4 BR
4 BR- 60135
1.13ratio
FMR$2,350
Market$2,080
vs market+$270
FMR is above market; underwrite to market rent.
1.13
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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Genoa, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Genoa, IL is $1,510 a month. That is up 4.9% from $1,440 in FY 2026. Genoa 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 Genoa is 58% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Genoa, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$990
$1,070
+8.1%
$963–$1,177
1BR
$1,100
$1,180
+7.3%
$1,062–$1,298
2BR
$1,440
$1,510
+4.9%
$1,359–$1,661
3BR
$1,910
$2,050
+7.3%
$1,845–$2,255
4BR
$2,310
$2,350
+1.7%
$2,115–$2,585
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Genoa, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,070
$1,180
$1,510
$2,050
$2,350
FY 2026
$990
$1,100
$1,440
$1,910
$2,310
FY 2025
$1,000
$1,110
$1,460
$1,990
$2,450
FY 2024
$890
$1,010
$1,320
$1,860
$2,240
FY 2023
$760
$870
$1,130
$1,610
$1,920
Questions about Genoa, IL rents
How much will Section 8 pay for a two-bedroom in Genoa, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,510, that basic range is $1,359 to $1,661 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 Genoa, IL in?
Genoa, 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 Genoa, IL for FY 2027?
The two-bedroom FMR rose 4.9%, from $1,440 in FY 2026 to $1,510 in FY 2027. Since FY 2023 it has risen 33.6%.
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