FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR- 60714
1.03ratio
FMR$1,550
Market$1,510
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.03
2 BR
2 BR- 60714
0.74ratio
FMR$1,750
Market$2,370
vs market-$620
FMR is below market; voucher rent may lag private rents.
0.74
3 BR
3 BR- 60714
0.80ratio
FMR$2,250
Market$2,800
vs market-$550
FMR is below market; voucher rent may lag private rents.
0.80
4 BR
4 BR- 60714
0.68ratio
FMR$2,570
Market$3,790
vs market-$1,220
FMR is below market; voucher rent may lag private rents.
0.68
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
--
Niles, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Niles, IL is $1,750 a month. That is up 12.2% from $1,560 in FY 2026. Niles 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 Niles is 83% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Niles, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,300
$1,460
+12.3%
$1,314–$1,606
1BR
$1,380
$1,550
+12.3%
$1,395–$1,705
2BR
$1,560
$1,750
+12.2%
$1,575–$1,925
3BR
$2,010
$2,250
+11.9%
$2,025–$2,475
4BR
$2,320
$2,570
+10.8%
$2,313–$2,827
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Niles, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,460
$1,550
$1,750
$2,250
$2,570
FY 2026
$1,300
$1,380
$1,560
$2,010
$2,320
FY 2025
$1,320
$1,410
$1,590
$2,040
$2,400
FY 2024
$1,300
$1,400
$1,590
$2,020
$2,400
FY 2023
$1,090
$1,190
$1,360
$1,730
$2,050
Questions about Niles, IL rents
How much will Section 8 pay for a two-bedroom in Niles, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,750, that basic range is $1,575 to $1,925 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 Niles, IL in?
Niles, 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 Niles, IL for FY 2027?
The two-bedroom FMR rose 12.2%, from $1,560 in FY 2026 to $1,750 in FY 2027. Since FY 2023 it has risen 28.7%.
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