FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR- 60031
0.98ratio
FMR$2,040
Market$2,080
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.98
2 BR
2 BR- 60031
1.18ratio
FMR$2,310
Market$1,960
vs market+$350
FMR is above market; underwrite to market rent.
1.18
3 BR
3 BR- 60031
1.12ratio
FMR$2,970
Market$2,650
vs market+$320
FMR is above market; underwrite to market rent.
1.12
4 BR
4 BR- 60031
1.13ratio
FMR$3,390
Market$3,000
vs market+$390
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
--
Gurnee, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Gurnee, IL is $2,310 a month. That is up 13.8% from $2,030 in FY 2026. Gurnee 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 Gurnee is 141% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Gurnee, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,690
$1,930
+14.2%
$1,737–$2,123
1BR
$1,800
$2,040
+13.3%
$1,836–$2,244
2BR
$2,030
$2,310
+13.8%
$2,079–$2,541
3BR
$2,610
$2,970
+13.8%
$2,673–$3,267
4BR
$3,020
$3,390
+12.3%
$3,051–$3,729
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Gurnee, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,930
$2,040
$2,310
$2,970
$3,390
FY 2026
$1,690
$1,800
$2,030
$2,610
$3,020
FY 2025
$1,630
$1,740
$1,970
$2,530
$2,970
FY 2024
$1,530
$1,640
$1,870
$2,380
$2,820
FY 2023
$1,260
$1,370
$1,570
$1,990
$2,370
Questions about Gurnee, IL rents
How much will Section 8 pay for a two-bedroom in Gurnee, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,310, that basic range is $2,079 to $2,541 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 Gurnee, IL in?
Gurnee, 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 Gurnee, IL for FY 2027?
The two-bedroom FMR rose 13.8%, from $2,030 in FY 2026 to $2,310 in FY 2027. Since FY 2023 it has risen 47.1%.
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