FMR is near market; voucher and private rents are aligned.
0.90
1 BR
1 BR- 62561
1.03ratio
FMR$1,070
Market$1,040
vs market+$30
FMR is near market; voucher and private rents are aligned.
1.03
2 BR
2 BR- 62561
1.25ratio
FMR$1,350
Market$1,080
vs market+$270
FMR is above market; underwrite to market rent.
1.25
3 BR
3 BR- 62561
1.32ratio
FMR$1,780
Market$1,350
vs market+$430
FMR is above market; underwrite to market rent.
1.32
4 BR
4 BR- 62561
1.22ratio
FMR$1,890
Market$1,550
vs market+$340
FMR is above market; underwrite to market rent.
1.22
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
--
Riverton, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Riverton, IL is $1,350 a month. That is down 2.9% from $1,390 in FY 2026. Riverton is in the Springfield, 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 $1,237. The median county two-bedroom FMR in Illinois is $958, so Riverton is 41% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Riverton, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$960
$940
−2.1%
$846–$1,034
1BR
$1,120
$1,070
−4.5%
$963–$1,177
2BR
$1,390
$1,350
−2.9%
$1,215–$1,485
3BR
$1,860
$1,780
−4.3%
$1,602–$1,958
4BR
$1,940
$1,890
−2.6%
$1,701–$2,079
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Riverton, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$940
$1,070
$1,350
$1,780
$1,890
FY 2026
$960
$1,120
$1,390
$1,860
$1,940
FY 2025
$890
$1,060
$1,300
$1,760
$1,800
FY 2024
$810
$970
$1,190
$1,580
$1,620
FY 2023
$630
$760
$940
$1,230
$1,290
Questions about Riverton, IL rents
How much will Section 8 pay for a two-bedroom in Riverton, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,237, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,113 to $1,361 a month; under the ZIP-level Small Area FMR of $1,350 it would be $1,215 to $1,485. 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 Riverton, IL in?
Riverton, IL is in the Springfield, IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,237.
How much did fair market rent change in Riverton, IL for FY 2027?
The two-bedroom FMR fell 2.9%, from $1,390 in FY 2026 to $1,350 in FY 2027. Since FY 2023 it has risen 43.6%.
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