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IL/Cook County/Oak Park

Oak Park, IL

CitySAFMR
Cook County
Found 4 ZIPs
Zillow

City Median Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$1,520 – $2,520$1,130 – $1,460
1 BR$1,610 – $2,670$1,320 – $1,620
2 BR$1,820 – $3,020$1,400 – $2,530
3 BR$2,340 – $3,880$1,840 – $2,850
4 BR$2,670 – $4,440$2,040 – $3,180
5 BR$3,369Not available
6 BR$3,875Not available
7 BR$4,456Not available
8 BR$5,125Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
2
1.06-1.73
1 BR
1
1
1
1
0.99-1.80
2 BR
1
1
1
1
0.88-1.41
3 BR
2
0.88-1.39
4 BR
2
0.89-1.45
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Oak Park, IL fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 4 ZIP codes in Oak Park, IL ranges from $1,820 to $3,020 a month, with a median of $1,995. That is up 12.7% from $1,770 in FY 2026. Oak Park 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 Oak Park is 108% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Oak Park, IL
BedroomsFY 2027Change90–110% range
Studio$1,665+13.3%$1,499–$1,832
1BR$1,765+12.4%$1,589–$1,942
2BR$1,995+12.7%$1,796–$2,195
3BR$2,565+12.5%$2,309–$2,822
4BR$2,930+11.0%$2,637–$3,223

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Oak Park, IL
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,665$1,765$1,995$2,565$2,930
FY 2026$1,470$1,570$1,770$2,280$2,640
FY 2025$1,460$1,560$1,765$2,265$2,665
FY 2024$1,425$1,535$1,745$2,220$2,630
FY 2023$1,190$1,290$1,480$1,875$2,230

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
60301$3,020+51.4%
60302$2,010+0.8%
60303$1,980−0.8%
60304$1,820−8.8%

Questions about Oak Park, IL rents

How much will Section 8 pay for a two-bedroom in Oak Park, IL?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,995, that basic range is $1,796 to $2,195 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 Oak Park, IL in?

Oak Park, 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 Oak Park, IL for FY 2027?

The two-bedroom FMR rose 12.7%, from $1,770 in FY 2026 to $1,995 in FY 2027. Since FY 2023 it has risen 34.8%.

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

County fair market rentIL statewide rentsWhat is SAFMR?Data sources