Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Toluca, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Toluca, IL is $1,060 a month. That is up 15.2% from $920 in FY 2026. Toluca 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 Toluca is 11% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Toluca, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$670
$800
+19.4%
$720–$880
1BR
$720
$840
+16.7%
$756–$924
2BR
$920
$1,060
+15.2%
$954–$1,166
3BR
$1,190
$1,360
+14.3%
$1,224–$1,496
4BR
$1,280
$1,500
+17.2%
$1,350–$1,650
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Toluca, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$800
$840
$1,060
$1,360
$1,500
FY 2026
$670
$720
$920
$1,190
$1,280
FY 2025
$620
$690
$870
$1,140
$1,180
FY 2024
$590
$650
$830
$1,080
$1,110
FY 2023
$560
$620
$780
$1,010
$1,050
Questions about Toluca, IL rents
How much will Section 8 pay for a two-bedroom in Toluca, 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 $1,060 it would be $954 to $1,166. 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 Toluca, IL in?
Toluca, 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 Toluca, IL for FY 2027?
The two-bedroom FMR rose 15.2%, from $920 in FY 2026 to $1,060 in FY 2027. Since FY 2023 it has risen 35.9%.
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