FMR is near market; voucher and private rents are aligned.
1.01
1 BR
1 BR- 60543
0.72ratio
FMR$1,600
Market$2,220
vs market-$620
FMR is below market; voucher rent may lag private rents.
0.72
2 BR
2 BR- 60543
0.89ratio
FMR$2,090
Market$2,360
vs market-$270
FMR is below market; voucher rent may lag private rents.
0.89
3 BR
3 BR- 60543
1.01ratio
FMR$2,720
Market$2,690
vs market+$30
FMR is near market; voucher and private rents are aligned.
1.01
4 BR
4 BR- 60543
0.89ratio
FMR$2,890
Market$3,240
vs market-$350
FMR is below market; voucher rent may lag private rents.
0.89
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
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Oswego, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Oswego, IL is $2,090 a month. That is up 25.9% from $1,660 in FY 2026. Oswego 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 Oswego is 118% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Oswego, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,140
$1,590
+39.5%
$1,431–$1,749
1BR
$1,270
$1,600
+26.0%
$1,440–$1,760
2BR
$1,660
$2,090
+25.9%
$1,881–$2,299
3BR
$2,280
$2,720
+19.3%
$2,448–$2,992
4BR
$2,360
$2,890
+22.5%
$2,601–$3,179
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Oswego, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,590
$1,600
$2,090
$2,720
$2,890
FY 2026
$1,140
$1,270
$1,660
$2,280
$2,360
FY 2025
$1,050
$1,060
$1,390
$1,950
$2,010
FY 2024
$930
$1,040
$1,370
$1,930
$2,020
FY 2023
$930
$940
$1,230
$1,750
$1,780
Questions about Oswego, IL rents
How much will Section 8 pay for a two-bedroom in Oswego, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,090, that basic range is $1,881 to $2,299 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 Oswego, IL in?
Oswego, 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 Oswego, IL for FY 2027?
The two-bedroom FMR rose 25.9%, from $1,660 in FY 2026 to $2,090 in FY 2027. Since FY 2023 it has risen 69.9%.
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