FMR is below market; voucher rent may lag private rents.
0.78
2 BR
2 BR- 61278
0.77ratio
FMR$1,260
Market$1,630
vs market-$370
FMR is below market; voucher rent may lag private rents.
0.77
3 BR
3 BR- 61278
0.88ratio
FMR$1,640
Market$1,860
vs market-$220
FMR is below market; voucher rent may lag private rents.
0.88
4 BR
4 BR- 61278
1.20ratio
FMR$1,990
Market$1,660
vs market+$330
FMR is above market; underwrite to market rent.
1.20
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
--
Rapids City, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Rapids City, IL is $1,260 a month. That is down 9.4% from $1,390 in FY 2026. Rapids City is in the Davenport-Moline-Rock Island, IA-IL MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,056. The median county two-bedroom FMR in Illinois is $958, so Rapids City is 32% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Rapids City, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$990
$900
−9.1%
$810–$990
1BR
$1,130
$1,020
−9.7%
$918–$1,122
2BR
$1,390
$1,260
−9.4%
$1,134–$1,386
3BR
$1,820
$1,640
−9.9%
$1,476–$1,804
4BR
$2,210
$1,990
−10.0%
$1,791–$2,189
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Rapids City, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$900
$1,020
$1,260
$1,640
$1,990
FY 2026
$990
$1,130
$1,390
$1,820
$2,210
FY 2025
$800
$940
$1,160
$1,510
$1,790
FY 2024
$620
$750
$920
$1,200
$1,390
FY 2023
$530
$640
$800
$1,050
$1,190
Questions about Rapids City, IL rents
How much will Section 8 pay for a two-bedroom in Rapids City, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,056, which applies unless the housing authority uses Small Area FMRs, that basic range is $950 to $1,162 a month; under the ZIP-level Small Area FMR of $1,260 it would be $1,134 to $1,386. 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 Rapids City, IL in?
Rapids City, IL is in the Davenport-Moline-Rock Island, IA-IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,056.
How much did fair market rent change in Rapids City, IL for FY 2027?
The two-bedroom FMR fell 9.4%, from $1,390 in FY 2026 to $1,260 in FY 2027. Since FY 2023 it has risen 57.5%.
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