FMR is near market; voucher and private rents are aligned.
1.08
1 BR
1 BR- 60451
1.08ratio
FMR$1,660
Market$1,530
vs market+$130
FMR is near market; voucher and private rents are aligned.
1.08
2 BR
2 BR- 60451
0.95ratio
FMR$1,870
Market$1,960
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.95
3 BR
3 BR- 60451
1.01ratio
FMR$2,400
Market$2,370
vs market+$30
FMR is near market; voucher and private rents are aligned.
1.01
4 BR
4 BR- 60451
0.85ratio
FMR$2,750
Market$3,220
vs market-$470
FMR is below market; voucher rent may lag private rents.
0.85
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
--
New Lenox, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in New Lenox, IL is $1,870 a month. That is up 14.7% from $1,630 in FY 2026. New Lenox 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 New Lenox is 95% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for New Lenox, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,350
$1,560
+15.6%
$1,404–$1,716
1BR
$1,450
$1,660
+14.5%
$1,494–$1,826
2BR
$1,630
$1,870
+14.7%
$1,683–$2,057
3BR
$2,100
$2,400
+14.3%
$2,160–$2,640
4BR
$2,430
$2,750
+13.2%
$2,475–$3,025
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for New Lenox, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,560
$1,660
$1,870
$2,400
$2,750
FY 2026
$1,350
$1,450
$1,630
$2,100
$2,430
FY 2025
$1,370
$1,470
$1,660
$2,130
$2,500
FY 2024
$1,370
$1,480
$1,680
$2,140
$2,530
FY 2023
$1,170
$1,270
$1,460
$1,850
$2,200
Questions about New Lenox, IL rents
How much will Section 8 pay for a two-bedroom in New Lenox, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,870, that basic range is $1,683 to $2,057 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 New Lenox, IL in?
New Lenox, 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 New Lenox, IL for FY 2027?
The two-bedroom FMR rose 14.7%, from $1,630 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 28.1%.
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