HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Franklin County, Illinois (FY 2027)
HUD's FY 2027 Fair Market Rent for a two-bedroom in Franklin County is $930 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$930
+1.5% from FY 2026
Payment standard
$837–$1,023
90% to 110% of the FMR, two-bedroom
Income to afford
$37,200
a year, with rent at 30% of income
Rank in Illinois
73rd of 102
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $648 | $583–$713 | $25,920 | $12.46/hr | +2.5% |
| 1 bedroom | $711 | $640–$782 | $28,440 | $13.67/hr | +1.9% |
| 2 bedroom | $930 | $837–$1,023 | $37,200 | $17.88/hr | +1.5% |
| 3 bedroom | $1,225 | $1,103–$1,348 | $49,000 | $23.56/hr | +3.7% |
| 4 bedroom | $1,315 | $1,184–$1,447 | $52,600 | $25.29/hr | -1.1% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,512 | $1,361–$1,663 |
| 6 bedroom Estimate | $1,710 | $1,539–$1,881 |
| 7 bedroom Estimate | $1,907 | $1,716–$2,098 |
| 8 bedroom Estimate | $2,104 | $1,894–$2,314 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Franklin actually rent for?
Search any address in Franklin for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Franklin somewhere between $837 and $1,023. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$930 a month is affordable, by HUD's 30% rule, on an income of roughly $37,200 a year. Put another way, $18 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$837 | Voucher pays at 100%$930 | Voucher pays at 110%$1,023 |
|---|---|---|---|---|
| $2,500 | $750 | $87 | $180 | $273 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 2% from FY 2026 ($916) to FY 2027 ($930). Since FY 2020 it's up 33% in total, about 4.2% a year. The Illinois median moved up 1% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $526 | $530 | $698 | $891 | $946 | — |
| FY 2021 | $474 | $533 | $702 | $885 | $952 | +0.6% |
| FY 2022 | $488 | $559 | $735 | $916 | $997 | +4.7% |
| FY 2023 | $518 | $588 | $774 | $972 | $1,040 | +5.3% |
| FY 2024 | $547 | $614 | $807 | $1,018 | $1,127 | +4.3% |
| FY 2025 | $597 | $663 | $870 | $1,104 | $1,255 | +7.8% |
| FY 2026 | $632 | $698 | $916 | $1,181 | $1,329 | +5.3% |
| FY 2027In effect | $648 | $711 | $930 | $1,225 | $1,315 | +1.5% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Franklin, that runs from $648 for a studio up to $1,315 for four bedrooms, all five rates in the table above.
Because Franklin sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Benton included.
Among Illinois's 102 counties, Franklin ranks 73rd for two-bedroom FMR. That's about 3% below the state median of $958 and about 13% below the national median county at $1,063. About 37,323 people live here, 35th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $930 in 62812 (Benton) and $1,230 in 62891 (Valier), with the 16 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 62812 | Benton | $930 | 0.0% |
| 62819 | Buckner | $1,120 | +20.4% |
| 62822 | Christopher | $930 | 0.0% |
| 62825 | Coello | $940 | +1.1% |
| 62836 | Ewing | $940 | +1.1% |
| 62840 | Frankfort Heights | $930 | 0.0% |
| 62856 | Logan | $1,000 | +7.5% |
| 62865 | Mulkeytown | $960 | +3.2% |
| 62874 | Orient | $930 | 0.0% |
| 62884 | Sesser | $930 | 0.0% |
| 62890 | Thompsonville | $1,220 | +31.2% |
| 62891 | Valier | $1,230 | +32.3% |
| 62896 | West Frankfort | $940 | +1.1% |
| 62897 | Whittington | $1,200 | +29.0% |
| 62983 | Royalton | $960 | +3.2% |
| 62999 | Zeigler | $950 | +2.2% |
Nearby counties
Two-bedroom FMR, with how each compares to Franklin.
Williamson County
13 mi · 66,876 people
$996
+7%
Jefferson County
21 mi · 36,550 people
$994
+7%
Hamilton County
23 mi · 7,916 people
$930
same rate
Jackson County
24 mi · 53,064 people
$930
same rate
Perry County
24 mi · 20,639 people
$930
same rate
Saline County
27 mi · 23,213 people
$930
same rate
Washington County
32 mi · 13,627 people
$930
same rate
Johnson County
36 mi · 13,376 people
$930
same rate
Questions people ask
$930 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $648 for a studio, $711 for one bedroom, $1,225 for three and $1,315 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Franklin actually go for?
HUD's number is one input. Search any address in Franklin for a rent estimate built from nearby comps. Free to start, no card.
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