FMR is near market; voucher and private rents are aligned.
1.08
2 BR
2 BR- 60097
0.96ratio
FMR$1,870
Market$1,950
vs market-$80
FMR is near market; voucher and private rents are aligned.
0.96
3 BR
3 BR- 60097
1.09ratio
FMR$2,400
Market$2,210
vs market+$190
FMR is near market; voucher and private rents are aligned.
1.09
4 BR
4 BR- 60097
1.12ratio
FMR$2,750
Market$2,450
vs market+$300
FMR is above market; underwrite to market rent.
1.12
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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Wonder Lake, IL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Wonder Lake, IL is $1,870 a month. That is up 14.0% from $1,640 in FY 2026. Wonder Lake 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 Wonder Lake is 95% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Wonder Lake, IL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,360
$1,560
+14.7%
$1,404–$1,716
1BR
$1,460
$1,660
+13.7%
$1,494–$1,826
2BR
$1,640
$1,870
+14.0%
$1,683–$2,057
3BR
$2,110
$2,400
+13.7%
$2,160–$2,640
4BR
$2,440
$2,750
+12.7%
$2,475–$3,025
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Wonder Lake, IL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,560
$1,660
$1,870
$2,400
$2,750
FY 2026
$1,360
$1,460
$1,640
$2,110
$2,440
FY 2025
$1,320
$1,410
$1,590
$2,040
$2,400
FY 2024
$1,330
$1,430
$1,630
$2,080
$2,460
FY 2023
$1,130
$1,220
$1,400
$1,780
$2,110
Questions about Wonder Lake, IL rents
How much will Section 8 pay for a two-bedroom in Wonder Lake, IL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,870, that basic range is $1,683 to $2,057 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 Wonder Lake, IL in?
Wonder Lake, 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 Wonder Lake, IL for FY 2027?
The two-bedroom FMR rose 14.0%, from $1,640 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 33.6%.
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