FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR- 60546
0.89ratio
FMR$1,810
Market$2,030
vs market-$220
FMR is below market; voucher rent may lag private rents.
0.89
3 BR
3 BR- 60546
1.03ratio
FMR$2,330
Market$2,260
vs market+$70
FMR is near market; voucher and private rents are aligned.
1.03
4 BR
4 BR- 60546
1.02ratio
FMR$2,660
Market$2,620
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.02
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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Riverside, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Riverside, IL is $1,810 a month. That is up 13.1% from $1,600 in FY 2026. Riverside 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 Riverside is 89% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Riverside, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,330
$1,510
+13.5%
$1,359–$1,661
1BR
$1,420
$1,600
+12.7%
$1,440–$1,760
2BR
$1,600
$1,810
+13.1%
$1,629–$1,991
3BR
$2,060
$2,330
+13.1%
$2,097–$2,563
4BR
$2,380
$2,660
+11.8%
$2,394–$2,926
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Riverside, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,510
$1,600
$1,810
$2,330
$2,660
FY 2026
$1,330
$1,420
$1,600
$2,060
$2,380
FY 2025
$1,300
$1,390
$1,570
$2,020
$2,370
FY 2024
$1,280
$1,380
$1,570
$2,000
$2,370
FY 2023
$1,050
$1,140
$1,310
$1,660
$1,980
Questions about Riverside, IL rents
How much will Section 8 pay for a two-bedroom in Riverside, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,810, that basic range is $1,629 to $1,991 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 Riverside, IL in?
Riverside, 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 Riverside, IL for FY 2027?
The two-bedroom FMR rose 13.1%, from $1,600 in FY 2026 to $1,810 in FY 2027. Since FY 2023 it has risen 38.2%.
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