FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR- 62090
0.95ratio
FMR$930
Market$980
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.95
2 BR
2 BR- 62090
1.09ratio
FMR$1,140
Market$1,050
vs market+$90
FMR is near market; voucher and private rents are aligned.
1.09
3 BR
3 BR- 62090
1.20ratio
FMR$1,460
Market$1,220
vs market+$240
FMR is above market; underwrite to market rent.
1.20
4 BR
4 BR- 62090
1.37ratio
FMR$1,690
Market$1,230
vs market+$460
FMR is above market; underwrite to market rent.
1.37
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
--
Venice, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Venice, IL is $1,140 a month. That is up 14.0% from $1,000 in FY 2026. Venice is in the St. Louis, MO-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 Venice is 19% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Venice, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$780
$900
+15.4%
$810–$990
1BR
$820
$930
+13.4%
$837–$1,023
2BR
$1,000
$1,140
+14.0%
$1,026–$1,254
3BR
$1,290
$1,460
+13.2%
$1,314–$1,606
4BR
$1,490
$1,690
+13.4%
$1,521–$1,859
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Venice, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$900
$930
$1,140
$1,460
$1,690
FY 2026
$780
$820
$1,000
$1,290
$1,490
FY 2025
$840
$880
$1,090
$1,410
$1,640
FY 2024
$760
$800
$990
$1,280
$1,490
FY 2023
$630
$680
$860
$1,110
$1,310
Questions about Venice, IL rents
How much will Section 8 pay for a two-bedroom in Venice, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,140, that basic range is $1,026 to $1,254 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 Venice, IL in?
Venice, IL is in the St. Louis, MO-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 Venice, IL for FY 2027?
The two-bedroom FMR rose 14.0%, from $1,000 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 32.6%.
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