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Home/IL/Will County

Will County, IL

CountySAFMR
Found 71 ZIPs
Zillow

County Median Investment Score

96Above average

095130300
BRFMR
Eff. Rent
0 BR$680 – $2,520$400 – $2,160
1 BR$720 – $2,670$550 – $2,420
2 BR$940 – $3,030$820 – $2,680
3 BR$1,240 – $3,900$1,140 – $3,060
4 BR$1,260 – $4,440$1,120 – $3,770
5 BR$2,990Not available
6 BR$3,438Not available
7 BR$3,954Not available
8 BR$4,547Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
7
0.64-1.70
1 BR
9
0.70-1.47
2 BR
8
0.75-1.30
3 BR
9
0.73-1.47
4 BR
8
0.63-1.58
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Will County, IL fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 71 ZIP codes in Will County, IL ranges from $940 to $3,030 a month, with a median of $1,770. That is up 14.2% from $1,550 in FY 2026. Will County 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 Will County is 85% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Will County, IL
BedroomsFY 2027Change90–110% range
Studio$1,480+18.4%$1,332–$1,628
1BR$1,550+16.5%$1,395–$1,705
2BR$1,770+14.2%$1,593–$1,947
3BR$2,280+14.0%$2,052–$2,508
4BR$2,600+12.6%$2,340–$2,860

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Will County, IL
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,480$1,550$1,770$2,280$2,600
FY 2026$1,250$1,330$1,550$2,000$2,310
FY 2025$1,190$1,280$1,480$1,950$2,170
FY 2024$1,160$1,250$1,460$1,900$2,140
FY 2023$1,000$1,080$1,250$1,620$1,870

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
60585$3,030+71.2%
60490$3,020+70.6%
60564$3,020+70.6%
60586$2,950+66.7%
60503$2,910+64.4%
60467$2,880+62.7%
60404$2,760+55.9%
60544$2,700+52.5%
60446$2,570+45.2%
60565$2,490+40.7%
60440$2,340+32.2%
60491$2,340+32.2%
60410$2,320+31.1%
60484$2,260+27.7%
60567$2,230+26.0%
60441$2,120+19.8%
60543$2,090+18.1%
60423$2,060+16.4%
60517$2,040+15.3%
60447$2,010+13.6%
60477$2,010+13.6%
60434$2,000+13.0%
60449$1,980+11.9%
60466$1,980+11.9%

Showing the 24 highest of 71 ZIP codes.

Questions about Will County, IL rents

How much will Section 8 pay for a two-bedroom in Will County, IL?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,770, that basic range is $1,593 to $1,947 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 Will County, IL in?

Will County, 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 Will County, IL for FY 2027?

The two-bedroom FMR rose 14.2%, from $1,550 in FY 2026 to $1,770 in FY 2027. Since FY 2023 it has risen 41.6%.

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

IL statewide rentsWhat is SAFMR?Data sources