FMR is near market; voucher and private rents are aligned.
0.94
3 BR
3 BR- 60456
1.13ratio
FMR$2,400
Market$2,120
vs market+$280
FMR is above market; underwrite to market rent.
1.13
4 BR
4 BR- 60456
1.00ratio
FMR$2,740
Market$2,750
vs market-$10
FMR is near market; voucher and private rents are aligned.
1.00
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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Hometown, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Hometown, IL is $1,870 a month. That is up 11.3% from $1,680 in FY 2026. Hometown 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 Hometown is 95% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Hometown, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,390
$1,560
+12.2%
$1,404–$1,716
1BR
$1,490
$1,650
+10.7%
$1,485–$1,815
2BR
$1,680
$1,870
+11.3%
$1,683–$2,057
3BR
$2,160
$2,400
+11.1%
$2,160–$2,640
4BR
$2,500
$2,740
+9.6%
$2,466–$3,014
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Hometown, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,560
$1,650
$1,870
$2,400
$2,740
FY 2026
$1,390
$1,490
$1,680
$2,160
$2,500
FY 2025
$1,410
$1,500
$1,700
$2,180
$2,560
FY 2024
$1,360
$1,460
$1,660
$2,120
$2,510
FY 2023
$1,140
$1,230
$1,420
$1,800
$2,140
Questions about Hometown, IL rents
How much will Section 8 pay for a two-bedroom in Hometown, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,870, that basic range is $1,683 to $2,057 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 Hometown, IL in?
Hometown, 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 Hometown, IL for FY 2027?
The two-bedroom FMR rose 11.3%, from $1,680 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 31.7%.
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