FMR is near market; voucher and private rents are aligned.
0.92
1 BR
1 BR- 61870
0.94ratio
FMR$730
Market$780
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.94
2 BR
2 BR- 61870
1.19ratio
FMR$930
Market$780
vs market+$150
FMR is above market; underwrite to market rent.
1.19
3 BR
3 BR- 61870
1.53ratio
FMR$1,240
Market$810
vs market+$430
FMR is above market; underwrite to market rent.
1.53
4 BR
4 BR- 61870
1.49ratio
FMR$1,300
Market$870
vs market+$430
FMR is above market; underwrite to market rent.
1.49
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
--
Ridge Farm, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Ridge Farm, IL is $930 a month. That is up 1.1% from $920 in FY 2026. Ridge Farm is in the Vermilion County, IL non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $956. The median county two-bedroom FMR in Illinois is $958, so Ridge Farm is 3% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Ridge Farm, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$630
$720
+14.3%
$648–$792
1BR
$710
$730
+2.8%
$657–$803
2BR
$920
$930
+1.1%
$837–$1,023
3BR
$1,130
$1,240
+9.7%
$1,116–$1,364
4BR
$1,250
$1,300
+4.0%
$1,170–$1,430
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Ridge Farm, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$720
$730
$930
$1,240
$1,300
FY 2026
$630
$710
$920
$1,130
$1,250
FY 2025
$700
$780
$1,020
$1,250
$1,380
FY 2024
$700
$740
$970
$1,210
$1,290
FY 2023
$650
$680
$890
$1,130
$1,200
Questions about Ridge Farm, IL rents
How much will Section 8 pay for a two-bedroom in Ridge Farm, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $956, which applies unless the housing authority uses Small Area FMRs, that basic range is $860 to $1,052 a month; under the ZIP-level Small Area FMR of $930 it would be $837 to $1,023. 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 Ridge Farm, IL in?
Ridge Farm, IL is in the Vermilion County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $956.
How much did fair market rent change in Ridge Farm, IL for FY 2027?
The two-bedroom FMR rose 1.1%, from $920 in FY 2026 to $930 in FY 2027. Since FY 2023 it has risen 4.5%.
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