For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in University Park, IL is $2,260 a month. That is up 22.8% from $1,840 in FY 2026. University Park 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 University Park is 136% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for University Park, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,530
$1,890
+23.5%
$1,701–$2,079
1BR
$1,630
$2,000
+22.7%
$1,800–$2,200
2BR
$1,840
$2,260
+22.8%
$2,034–$2,486
3BR
$2,370
$2,910
+22.8%
$2,619–$3,201
4BR
$2,740
$3,320
+21.2%
$2,988–$3,652
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for University Park, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,890
$2,000
$2,260
$2,910
$3,320
FY 2026
$1,530
$1,630
$1,840
$2,370
$2,740
FY 2025
$1,350
$1,440
$1,630
$2,090
$2,460
FY 2024
$1,190
$1,280
$1,460
$1,860
$2,200
FY 2023
$1,000
$1,080
$1,240
$1,570
$1,870
Questions about University Park, IL rents
How much will Section 8 pay for a two-bedroom in University Park, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,260, that basic range is $2,034 to $2,486 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 University Park, IL in?
University Park, 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 University Park, IL for FY 2027?
The two-bedroom FMR rose 22.8%, from $1,840 in FY 2026 to $2,260 in FY 2027. Since FY 2023 it has risen 82.3%.
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