FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR- 60090
1.07ratio
FMR$2,030
Market$1,900
vs market+$130
FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR- 60090
1.03ratio
FMR$2,290
Market$2,230
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.03
3 BR
3 BR- 60090
1.04ratio
FMR$2,940
Market$2,830
vs market+$110
FMR is near market; voucher and private rents are aligned.
1.04
4 BR
4 BR- 60090
1.11ratio
FMR$3,360
Market$3,040
vs market+$320
FMR is above market; underwrite to market rent.
1.11
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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Wheeling, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Wheeling, IL is $2,290 a month. That is up 16.8% from $1,960 in FY 2026. Wheeling 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 Wheeling is 139% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Wheeling, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,630
$1,910
+17.2%
$1,719–$2,101
1BR
$1,740
$2,030
+16.7%
$1,827–$2,233
2BR
$1,960
$2,290
+16.8%
$2,061–$2,519
3BR
$2,520
$2,940
+16.7%
$2,646–$3,234
4BR
$2,920
$3,360
+15.1%
$3,024–$3,696
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Wheeling, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,910
$2,030
$2,290
$2,940
$3,360
FY 2026
$1,630
$1,740
$1,960
$2,520
$2,920
FY 2025
$1,570
$1,680
$1,900
$2,440
$2,870
FY 2024
$1,530
$1,640
$1,870
$2,380
$2,820
FY 2023
$1,290
$1,390
$1,600
$2,030
$2,410
Questions about Wheeling, IL rents
How much will Section 8 pay for a two-bedroom in Wheeling, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,290, that basic range is $2,061 to $2,519 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 Wheeling, IL in?
Wheeling, 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 Wheeling, IL for FY 2027?
The two-bedroom FMR rose 16.8%, from $1,960 in FY 2026 to $2,290 in FY 2027. Since FY 2023 it has risen 43.1%.
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