FMR is near market; voucher and private rents are aligned.
1.04
1 BR
1 BR- 60048
1.02ratio
FMR$1,970
Market$1,930
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.02
2 BR
2 BR- 60048
1.01ratio
FMR$2,220
Market$2,190
vs market+$30
FMR is near market; voucher and private rents are aligned.
1.01
3 BR
3 BR- 60048
0.89ratio
FMR$2,850
Market$3,200
vs market-$350
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR- 60048
0.79ratio
FMR$3,260
Market$4,120
vs market-$860
FMR is below market; voucher rent may lag private rents.
0.79
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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Libertyville, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Libertyville, IL is $2,220 a month. That is up 11.0% from $2,000 in FY 2026. Libertyville 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 Libertyville is 132% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Libertyville, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,660
$1,850
+11.4%
$1,665–$2,035
1BR
$1,780
$1,970
+10.7%
$1,773–$2,167
2BR
$2,000
$2,220
+11.0%
$1,998–$2,442
3BR
$2,580
$2,850
+10.5%
$2,565–$3,135
4BR
$2,980
$3,260
+9.4%
$2,934–$3,586
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Libertyville, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,850
$1,970
$2,220
$2,850
$3,260
FY 2026
$1,660
$1,780
$2,000
$2,580
$2,980
FY 2025
$1,710
$1,830
$2,070
$2,660
$3,120
FY 2024
$1,680
$1,810
$2,060
$2,620
$3,100
FY 2023
$1,410
$1,530
$1,750
$2,220
$2,640
Questions about Libertyville, IL rents
How much will Section 8 pay for a two-bedroom in Libertyville, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,220, that basic range is $1,998 to $2,442 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 Libertyville, IL in?
Libertyville, 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 Libertyville, IL for FY 2027?
The two-bedroom FMR rose 11.0%, from $2,000 in FY 2026 to $2,220 in FY 2027. Since FY 2023 it has risen 26.9%.
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