Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 61433 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 61433 (Fiatt, IL) is $940 a month. That is up 1.1% from $930 in FY 2026. Fiatt is in the Fulton County, IL non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $930. Among 24 ZIP codes in Fulton County, 61433 is tied for the 13th-highest two-bedroom rent (county range $930–$1,110). The median county two-bedroom FMR in Illinois is $958, so ZIP 61433 is 2% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 61433
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$720
$660
−8.3%
$594–$726
1BR
$720
$740
+2.8%
$666–$814
2BR
$930
$940
+1.1%
$846–$1,034
3BR
$1,290
$1,300
+0.8%
$1,170–$1,430
4BR
$1,300
$1,310
+0.8%
$1,179–$1,441
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 61433
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$660
$740
$940
$1,300
$1,310
FY 2026
$720
$720
$930
$1,290
$1,300
FY 2025
$670
$670
$880
$1,210
$1,280
FY 2024
$670
$670
$880
$1,150
$1,360
FY 2023
$630
$640
$840
$1,040
$1,390
Two-bedroom rent in nearby Fulton County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 61433?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $930, which applies unless the housing authority uses Small Area FMRs, that basic range is $837 to $1,023 a month; under the ZIP-level Small Area FMR of $940 it would be $846 to $1,034. 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 61433 in?
ZIP 61433 is in the Fulton County, IL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $930.
How much did fair market rent change in ZIP 61433 for FY 2027?
The two-bedroom FMR rose 1.1%, from $930 in FY 2026 to $940 in FY 2027. Since FY 2023 it has risen 11.9%.
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