FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR- 61564
0.93ratio
FMR$800
Market$860
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.93
2 BR
2 BR- 61564
0.94ratio
FMR$1,010
Market$1,080
vs market-$70
FMR is near market; voucher and private rents are aligned.
0.94
3 BR
3 BR- 61564
1.13ratio
FMR$1,300
Market$1,150
vs market+$150
FMR is above market; underwrite to market rent.
1.13
4 BR
4 BR- 61564
1.17ratio
FMR$1,420
Market$1,210
vs market+$210
FMR is above market; underwrite to market rent.
1.17
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
--
South Pekin, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in South Pekin, IL is $1,010 a month. That is up 9.8% from $920 in FY 2026. South Pekin is in the Peoria, 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 $1,212. The median county two-bedroom FMR in Illinois is $958, so South Pekin is 5% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for South Pekin, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$670
$760
+13.4%
$684–$836
1BR
$720
$800
+11.1%
$720–$880
2BR
$920
$1,010
+9.8%
$909–$1,111
3BR
$1,190
$1,300
+9.2%
$1,170–$1,430
4BR
$1,280
$1,420
+10.9%
$1,278–$1,562
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for South Pekin, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$760
$800
$1,010
$1,300
$1,420
FY 2026
$670
$720
$920
$1,190
$1,280
FY 2025
$680
$750
$950
$1,230
$1,290
FY 2024
$660
$730
$930
$1,210
$1,250
FY 2023
$610
$680
$860
$1,120
$1,160
Questions about South Pekin, IL rents
How much will Section 8 pay for a two-bedroom in South Pekin, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,212, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,091 to $1,333 a month; under the ZIP-level Small Area FMR of $1,010 it would be $909 to $1,111. 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 South Pekin, IL in?
South Pekin, IL is in the Peoria, IL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,212.
How much did fair market rent change in South Pekin, IL for FY 2027?
The two-bedroom FMR rose 9.8%, from $920 in FY 2026 to $1,010 in FY 2027. Since FY 2023 it has risen 17.4%.
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