FMR is below market; voucher rent may lag private rents.
0.82
1 BR
1 BR- 60447
0.82ratio
FMR$1,570
Market$1,920
vs market-$350
FMR is below market; voucher rent may lag private rents.
0.82
2 BR
2 BR- 60447
1.01ratio
FMR$2,010
Market$1,990
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.01
3 BR
3 BR- 60447
1.29ratio
FMR$2,710
Market$2,100
vs market+$610
FMR is above market; underwrite to market rent.
1.29
4 BR
4 BR- 60447
1.23ratio
FMR$3,090
Market$2,520
vs market+$570
FMR is above market; underwrite to market rent.
1.23
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
--
Minooka, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Minooka, IL is $2,010 a month. That is up 12.3% from $1,790 in FY 2026. Minooka 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 Minooka is 110% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Minooka, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,300
$1,520
+16.9%
$1,368–$1,672
1BR
$1,410
$1,570
+11.3%
$1,413–$1,727
2BR
$1,790
$2,010
+12.3%
$1,809–$2,211
3BR
$2,420
$2,710
+12.0%
$2,439–$2,981
4BR
$2,680
$3,090
+15.3%
$2,781–$3,399
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Minooka, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,520
$1,570
$2,010
$2,710
$3,090
FY 2026
$1,300
$1,410
$1,790
$2,420
$2,680
FY 2025
$1,410
$1,520
$1,950
$2,580
$2,670
FY 2024
$1,430
$1,580
$2,020
$2,650
$2,780
FY 2023
$1,310
$1,430
$1,840
$2,370
$2,540
Questions about Minooka, IL rents
How much will Section 8 pay for a two-bedroom in Minooka, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,010, that basic range is $1,809 to $2,211 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 Minooka, IL in?
Minooka, 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 Minooka, IL for FY 2027?
The two-bedroom FMR rose 12.3%, from $1,790 in FY 2026 to $2,010 in FY 2027. Since FY 2023 it has risen 9.2%.
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