FMR is near market; voucher and private rents are aligned.
0.97
1 BR
1 BR- 60047
1.07ratio
FMR$2,340
Market$2,190
vs market+$150
FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR- 60047
0.98ratio
FMR$2,640
Market$2,690
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.98
3 BR
3 BR- 60047
1.17ratio
FMR$3,400
Market$2,910
vs market+$490
FMR is above market; underwrite to market rent.
1.17
4 BR
4 BR- 60047
1.11ratio
FMR$3,880
Market$3,480
vs market+$400
FMR is above market; underwrite to market rent.
1.11
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
--
Lake Zurich, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Lake Zurich, IL is $2,640 a month. That is up 12.3% from $2,350 in FY 2026. Lake Zurich 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 Zurich is 176% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Lake Zurich, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,950
$2,200
+12.8%
$1,980–$2,420
1BR
$2,090
$2,340
+12.0%
$2,106–$2,574
2BR
$2,350
$2,640
+12.3%
$2,376–$2,904
3BR
$3,030
$3,400
+12.2%
$3,060–$3,740
4BR
$3,500
$3,880
+10.9%
$3,492–$4,268
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Lake Zurich, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,200
$2,340
$2,640
$3,400
$3,880
FY 2026
$1,950
$2,090
$2,350
$3,030
$3,500
FY 2025
$1,970
$2,110
$2,380
$3,060
$3,590
FY 2024
$1,950
$2,100
$2,390
$3,040
$3,600
FY 2023
$1,630
$1,770
$2,030
$2,580
$3,060
Questions about Lake Zurich, IL rents
How much will Section 8 pay for a two-bedroom in Lake Zurich, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,640, that basic range is $2,376 to $2,904 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 Zurich, IL in?
Lake Zurich, 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 Zurich, IL for FY 2027?
The two-bedroom FMR rose 12.3%, from $2,350 in FY 2026 to $2,640 in FY 2027. Since FY 2023 it has risen 30.0%.
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