FMR is below market; voucher rent may lag private rents.
0.74
1 BR
1 BR- 61362
0.83ratio
FMR$890
Market$1,070
vs market-$180
FMR is below market; voucher rent may lag private rents.
0.83
2 BR
2 BR- 61362
0.91ratio
FMR$1,160
Market$1,280
vs market-$120
FMR is near market; voucher and private rents are aligned.
0.91
3 BR
3 BR- 61362
0.98ratio
FMR$1,440
Market$1,470
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.98
4 BR
4 BR- 61362
1.00ratio
FMR$1,600
Market$1,600
vs market+$0
FMR is near market; voucher and private rents are aligned.
1.00
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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Spring Valley, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Spring Valley, IL is $1,160 a month. That is down 2.5% from $1,190 in FY 2026. Spring Valley is in the Bureau 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 $981. The median county two-bedroom FMR in Illinois is $958, so Spring Valley is 21% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Spring Valley, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$820
$810
−1.2%
$729–$891
1BR
$910
$890
−2.2%
$801–$979
2BR
$1,190
$1,160
−2.5%
$1,044–$1,276
3BR
$1,470
$1,440
−2.0%
$1,296–$1,584
4BR
$1,650
$1,600
−3.0%
$1,440–$1,760
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Spring Valley, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$810
$890
$1,160
$1,440
$1,600
FY 2026
$820
$910
$1,190
$1,470
$1,650
FY 2025
$690
$770
$1,010
$1,250
$1,480
FY 2024area FMR
$603
$677
$890
$1,093
$1,284
FY 2023area FMR
$544
$618
$814
$994
$1,128
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Spring Valley, IL rents
How much will Section 8 pay for a two-bedroom in Spring Valley, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $981, which applies unless the housing authority uses Small Area FMRs, that basic range is $883 to $1,079 a month; under the ZIP-level Small Area FMR of $1,160 it would be $1,044 to $1,276. 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 Spring Valley, IL in?
Spring Valley, IL is in the Bureau County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $981.
How much did fair market rent change in Spring Valley, IL for FY 2027?
The two-bedroom FMR fell 2.5%, from $1,190 in FY 2026 to $1,160 in FY 2027. Since FY 2025 it has risen 14.9%.
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