FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR- 60046
1.09ratio
FMR$2,030
Market$1,870
vs market+$160
FMR is near market; voucher and private rents are aligned.
1.09
2 BR
2 BR- 60046
1.08ratio
FMR$2,290
Market$2,120
vs market+$170
FMR is near market; voucher and private rents are aligned.
1.08
3 BR
3 BR- 60046
1.08ratio
FMR$2,940
Market$2,720
vs market+$220
FMR is near market; voucher and private rents are aligned.
1.08
4 BR
4 BR- 60046
1.06ratio
FMR$3,360
Market$3,160
vs market+$200
FMR is near market; voucher and private rents are aligned.
1.06
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 Villa, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Lake Villa, IL is $2,290 a month. That is up 12.3% from $2,040 in FY 2026. Lake Villa 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 Villa is 139% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Lake Villa, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,690
$1,910
+13.0%
$1,719–$2,101
1BR
$1,810
$2,030
+12.2%
$1,827–$2,233
2BR
$2,040
$2,290
+12.3%
$2,061–$2,519
3BR
$2,630
$2,940
+11.8%
$2,646–$3,234
4BR
$3,040
$3,360
+10.5%
$3,024–$3,696
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Lake Villa, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,910
$2,030
$2,290
$2,940
$3,360
FY 2026
$1,690
$1,810
$2,040
$2,630
$3,040
FY 2025
$1,650
$1,760
$1,990
$2,560
$3,000
FY 2024
$1,560
$1,680
$1,910
$2,430
$2,880
FY 2023
$1,250
$1,360
$1,560
$1,980
$2,350
Questions about Lake Villa, IL rents
How much will Section 8 pay for a two-bedroom in Lake Villa, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,290, that basic range is $2,061 to $2,519 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 Villa, IL in?
Lake Villa, 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 Villa, IL for FY 2027?
The two-bedroom FMR rose 12.3%, from $2,040 in FY 2026 to $2,290 in FY 2027. Since FY 2023 it has risen 46.8%.
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