FMR is near market; voucher and private rents are aligned.
0.99
3 BR
3 BR- 60449
1.13ratio
FMR$2,550
Market$2,260
vs market+$290
FMR is above market; underwrite to market rent.
1.13
4 BR
4 BR- 60449
1.01ratio
FMR$2,910
Market$2,870
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.01
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
--
Monee, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Monee, IL is $1,980 a month. That is up 32.0% from $1,500 in FY 2026. Monee 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 Monee is 107% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Monee, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,250
$1,650
+32.0%
$1,485–$1,815
1BR
$1,330
$1,750
+31.6%
$1,575–$1,925
2BR
$1,500
$1,980
+32.0%
$1,782–$2,178
3BR
$1,930
$2,550
+32.1%
$2,295–$2,805
4BR
$2,230
$2,910
+30.5%
$2,619–$3,201
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Monee, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,650
$1,750
$1,980
$2,550
$2,910
FY 2026
$1,250
$1,330
$1,500
$1,930
$2,230
FY 2025
$1,190
$1,280
$1,440
$1,850
$2,170
FY 2024
$1,050
$1,130
$1,290
$1,640
$1,940
FY 2023
$1,060
$1,150
$1,320
$1,670
$1,990
Questions about Monee, IL rents
How much will Section 8 pay for a two-bedroom in Monee, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,980, that basic range is $1,782 to $2,178 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 Monee, IL in?
Monee, 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 Monee, IL for FY 2027?
The two-bedroom FMR rose 32.0%, from $1,500 in FY 2026 to $1,980 in FY 2027. Since FY 2023 it has risen 50.0%.
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