FMR is below market; voucher rent may lag private rents.
0.89
3 BR
3 BR- 60491
1.08ratio
FMR$3,010
Market$2,780
vs market+$230
FMR is near market; voucher and private rents are aligned.
1.08
4 BR
4 BR- 60491
1.02ratio
FMR$3,440
Market$3,380
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.02
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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Homer Glen, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Homer Glen, IL is $2,340 a month. That is up 13.0% from $2,070 in FY 2026. Homer Glen 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 Homer Glen is 144% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Homer Glen, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,720
$1,950
+13.4%
$1,755–$2,145
1BR
$1,840
$2,070
+12.5%
$1,863–$2,277
2BR
$2,070
$2,340
+13.0%
$2,106–$2,574
3BR
$2,670
$3,010
+12.7%
$2,709–$3,311
4BR
$3,080
$3,440
+11.7%
$3,096–$3,784
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Homer Glen, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,950
$2,070
$2,340
$3,010
$3,440
FY 2026
$1,720
$1,840
$2,070
$2,670
$3,080
FY 2025
$1,860
$1,980
$2,240
$2,880
$3,380
FY 2024
$1,990
$2,140
$2,440
$3,110
$3,680
FY 2023
$1,590
$1,730
$1,980
$2,510
$2,990
Questions about Homer Glen, IL rents
How much will Section 8 pay for a two-bedroom in Homer Glen, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,340, that basic range is $2,106 to $2,574 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 Homer Glen, IL in?
Homer Glen, 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 Homer Glen, IL for FY 2027?
The two-bedroom FMR rose 13.0%, from $2,070 in FY 2026 to $2,340 in FY 2027. Since FY 2023 it has risen 18.2%.
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