FMR is near market; voucher and private rents are aligned.
1.04
1 BR
1 BR- 60073
1.17ratio
FMR$1,900
Market$1,630
vs market+$270
FMR is above market; underwrite to market rent.
1.17
2 BR
2 BR- 60073
1.12ratio
FMR$2,150
Market$1,920
vs market+$230
FMR is above market; underwrite to market rent.
1.12
3 BR
3 BR- 60073
1.14ratio
FMR$2,760
Market$2,430
vs market+$330
FMR is above market; underwrite to market rent.
1.14
4 BR
4 BR- 60073
1.12ratio
FMR$3,160
Market$2,810
vs market+$350
FMR is above market; underwrite to market rent.
1.12
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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Round Lake, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Round Lake, IL is $2,150 a month. That is up 12.6% from $1,910 in FY 2026. Round Lake 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 Round Lake is 125% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Round Lake, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,590
$1,790
+12.6%
$1,611–$1,969
1BR
$1,700
$1,900
+11.8%
$1,710–$2,090
2BR
$1,910
$2,150
+12.6%
$1,935–$2,365
3BR
$2,460
$2,760
+12.2%
$2,484–$3,036
4BR
$2,850
$3,160
+10.9%
$2,844–$3,476
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Round Lake, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,790
$1,900
$2,150
$2,760
$3,160
FY 2026
$1,590
$1,700
$1,910
$2,460
$2,850
FY 2025
$1,590
$1,700
$1,920
$2,470
$2,900
FY 2024
$1,550
$1,670
$1,900
$2,420
$2,860
FY 2023
$1,300
$1,410
$1,620
$2,060
$2,440
Questions about Round Lake, IL rents
How much will Section 8 pay for a two-bedroom in Round Lake, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,150, that basic range is $1,935 to $2,365 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 Round Lake, IL in?
Round Lake, 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 Round Lake, IL for FY 2027?
The two-bedroom FMR rose 12.6%, from $1,910 in FY 2026 to $2,150 in FY 2027. Since FY 2023 it has risen 32.7%.
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