For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 60677 (Chicago, IL) is $2,011 a month. That is up 12.9% from $1,781 in FY 2026. Chicago 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 ZIP 60677 is 110% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 60677
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,480
$1,678
+13.4%
$1,510–$1,846
1BR
$1,581
$1,780
+12.6%
$1,602–$1,958
2BR
$1,781
$2,011
+12.9%
$1,810–$2,212
3BR
$2,294
$2,586
+12.7%
$2,327–$2,845
4BR
$2,653
$2,954
+11.3%
$2,659–$3,249
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 60677
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,678
$1,780
$2,011
$2,586
$2,954
FY 2026
$1,480
$1,581
$1,781
$2,294
$2,653
FY 2025
$1,458
$1,560
$1,761
$2,262
$2,657
FY 2024
$1,399
$1,507
$1,714
$2,182
$2,583
FY 2023
$1,158
$1,255
$1,440
$1,827
$2,172
Questions about ZIP 60677 rents
How much will Section 8 pay for a two-bedroom in ZIP 60677?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,011, that basic range is $1,810 to $2,212 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 ZIP 60677 in?
ZIP 60677 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 ZIP 60677 for FY 2027?
The two-bedroom FMR rose 12.9%, from $1,781 in FY 2026 to $2,011 in FY 2027. Since FY 2023 it has risen 39.7%.
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 Fair Market Rents. 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