FMR is near market; voucher and private rents are aligned.
1.01
2 BR
2 BR- 60035
0.88ratio
FMR$2,670
Market$3,030
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.88
3 BR
3 BR- 60035
0.87ratio
FMR$3,430
Market$3,950
vs market-$520
FMR is below market; voucher rent may lag private rents.
0.87
4 BR
4 BR- 60035
0.89ratio
FMR$3,920
Market$4,420
vs market-$500
FMR is below market; voucher rent may lag private rents.
0.89
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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Highland Park, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Highland Park, IL is $2,670 a month. That is up 8.5% from $2,460 in FY 2026. Highland Park 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 Highland Park is 179% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Highland Park, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,040
$2,230
+9.3%
$2,007–$2,453
1BR
$2,180
$2,360
+8.3%
$2,124–$2,596
2BR
$2,460
$2,670
+8.5%
$2,403–$2,937
3BR
$3,170
$3,430
+8.2%
$3,087–$3,773
4BR
$3,660
$3,920
+7.1%
$3,528–$4,312
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Highland Park, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,230
$2,360
$2,670
$3,430
$3,920
FY 2026
$2,040
$2,180
$2,460
$3,170
$3,660
FY 2025
$2,060
$2,210
$2,490
$3,200
$3,760
FY 2024
$2,070
$2,220
$2,530
$3,220
$3,810
FY 2023
$1,740
$1,880
$2,160
$2,740
$3,260
Questions about Highland Park, IL rents
How much will Section 8 pay for a two-bedroom in Highland Park, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,670, that basic range is $2,403 to $2,937 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 Highland Park, IL in?
Highland Park, 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 Highland Park, IL for FY 2027?
The two-bedroom FMR rose 8.5%, from $2,460 in FY 2026 to $2,670 in FY 2027. Since FY 2023 it has risen 23.6%.
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