FMR is near market; voucher and private rents are aligned.
0.95
2 BR
2 BR- 60044
1.10ratio
FMR$2,280
Market$2,070
vs market+$210
FMR is above market; underwrite to market rent.
1.10
3 BR
3 BR- 60044
0.94ratio
FMR$2,930
Market$3,120
vs market-$190
FMR is near market; voucher and private rents are aligned.
0.94
4 BR
4 BR- 60044
0.75ratio
FMR$3,350
Market$4,440
vs market-$1,090
FMR is below market; voucher rent may lag private rents.
0.75
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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Lake Bluff, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Lake Bluff, IL is $2,280 a month. That is up 8.6% from $2,100 in FY 2026. Lake Bluff 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 Lake Bluff is 138% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Lake Bluff, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,740
$1,900
+9.2%
$1,710–$2,090
1BR
$1,860
$2,020
+8.6%
$1,818–$2,222
2BR
$2,100
$2,280
+8.6%
$2,052–$2,508
3BR
$2,700
$2,930
+8.5%
$2,637–$3,223
4BR
$3,130
$3,350
+7.0%
$3,015–$3,685
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Lake Bluff, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,900
$2,020
$2,280
$2,930
$3,350
FY 2026
$1,740
$1,860
$2,100
$2,700
$3,130
FY 2025
$1,740
$1,860
$2,100
$2,700
$3,170
FY 2024
$1,690
$1,820
$2,070
$2,640
$3,120
FY 2023
$1,380
$1,500
$1,720
$2,180
$2,590
Questions about Lake Bluff, IL rents
How much will Section 8 pay for a two-bedroom in Lake Bluff, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,280, that basic range is $2,052 to $2,508 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 Lake Bluff, IL in?
Lake Bluff, 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 Lake Bluff, IL for FY 2027?
The two-bedroom FMR rose 8.6%, from $2,100 in FY 2026 to $2,280 in FY 2027. Since FY 2023 it has risen 32.6%.
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