FMR is below market; voucher rent may lag private rents.
0.87
1 BR
1 BR- 60481
0.97ratio
FMR$1,290
Market$1,330
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.97
2 BR
2 BR- 60481
1.04ratio
FMR$1,460
Market$1,410
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.04
3 BR
3 BR- 60481
1.14ratio
FMR$1,880
Market$1,650
vs market+$230
FMR is above market; underwrite to market rent.
1.14
4 BR
4 BR- 60481
1.24ratio
FMR$2,150
Market$1,730
vs market+$420
FMR is above market; underwrite to market rent.
1.24
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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Wilmington, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Wilmington, IL is $1,460 a month. That is up 13.2% from $1,290 in FY 2026. Wilmington is in the Grundy County, 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 Wilmington is 52% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Wilmington, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,070
$1,220
+14.0%
$1,098–$1,342
1BR
$1,140
$1,290
+13.2%
$1,161–$1,419
2BR
$1,290
$1,460
+13.2%
$1,314–$1,606
3BR
$1,660
$1,880
+13.3%
$1,692–$2,068
4BR
$1,920
$2,150
+12.0%
$1,935–$2,365
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Wilmington, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,220
$1,290
$1,460
$1,880
$2,150
FY 2026
$1,070
$1,140
$1,290
$1,660
$1,920
FY 2025
$1,060
$1,130
$1,280
$1,640
$1,930
FY 2024
$1,040
$1,120
$1,280
$1,630
$1,930
FY 2023
$870
$940
$1,080
$1,370
$1,630
Questions about Wilmington, IL rents
How much will Section 8 pay for a two-bedroom in Wilmington, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,460, that basic range is $1,314 to $1,606 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 Wilmington, IL in?
Wilmington, IL is in the Grundy County, 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 Wilmington, IL for FY 2027?
The two-bedroom FMR rose 13.2%, from $1,290 in FY 2026 to $1,460 in FY 2027. Since FY 2023 it has risen 35.2%.
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