HUD Fair Market Rent · FY 2026 · Effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Lake County, Illinois (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Lake County is $1,781 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$1,781
+1.1% from FY 2025
Payment standard
$1,603–$1,959
90% to 110% of the FMR, two-bedroom
Income to afford
$71,240
a year, with rent at 30% of income
Rank in Illinois
5th of 102
by two-bedroom FMR, highest first
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Lake moves to $2,011. That's up 13%. The full FY 2027 table is in the history section below.
FY 2026 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 2025 |
|---|---|---|---|---|---|
| Studio | $1,480 | $1,332–$1,628 | $59,200 | $28.46/hr | +1.5% |
| 1 bedroom | $1,581 | $1,423–$1,739 | $63,240 | $30.40/hr | +1.3% |
| 2 bedroom | $1,781 | $1,603–$1,959 | $71,240 | $34.25/hr | +1.1% |
| 3 bedroom | $2,294 | $2,065–$2,523 | $91,760 | $44.12/hr | +1.4% |
| 4 bedroom | $2,653 | $2,388–$2,918 | $106,120 | $51.02/hr | -0.2% |
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 | $3,051 | $2,746–$3,356 |
| 6 bedroom Estimate | $3,449 | $3,104–$3,794 |
| 7 bedroom Estimate | $3,847 | $3,462–$4,232 |
| 8 bedroom Estimate | $4,245 | $3,821–$4,670 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Lake actually rent for?
Search any address in Lake 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 Lake somewhere between $1,603 and $1,959. 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.
$1,781 a month is affordable, by HUD's 30% rule, on an income of roughly $71,240 a year. Put another way, $34 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%$1,603 | Voucher pays at 100%$1,781 | Voucher pays at 110%$1,959 |
|---|---|---|---|---|
| $2,500 | $750 | $853 | $1,031 | $1,209 |
| $4,000 | $1,200 | $403 | $581 | $759 |
Rate history
The two-bedroom rate went up 1% from FY 2025 ($1,761) to FY 2026 ($1,781). Since FY 2020 it's up 43% in total, about 6.1% a year. The Illinois median moved up 6% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $956 | $1,076 | $1,248 | $1,585 | $1,888 | — |
| FY 2021 | $1,012 | $1,122 | $1,299 | $1,649 | $1,969 | +4.1% |
| FY 2022 | $1,059 | $1,161 | $1,340 | $1,697 | $2,018 | +3.2% |
| FY 2023 | $1,158 | $1,255 | $1,440 | $1,827 | $2,172 | +7.5% |
| FY 2024 | $1,399 | $1,507 | $1,714 | $2,182 | $2,583 | +19.0% |
| FY 2025 | $1,458 | $1,560 | $1,761 | $2,262 | $2,657 | +2.7% |
| FY 2026In effect | $1,480 | $1,581 | $1,781 | $2,294 | $2,653 | +1.1% |
| FY 2027From Oct 1, 2026 | $1,678 | $1,780 | $2,011 | $2,586 | $2,954 | +12.9% |
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 2026 that's October 1, 2025 through September 30, 2026. In Lake, that runs from $1,480 for a studio up to $2,653 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Lake in with 5 other counties in the Chicago-Joliet-Naperville metro, Cook County, DuPage County, Will County among them, and every one of them gets $1,781 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Illinois's 102 counties, Lake ranks 5th for two-bedroom FMR. That's about 87% above the state median of $953 and about 75% above the national median county at $1,018. About 713,159 people live here, 3rd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,320 in 60041 (Ingleside) and $2,670 in 60010 (Barrington), with the 32 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 |
|---|---|---|---|
| 60002 | Antioch | $1,500 | -15.8% |
| 60010 | Barrington | $2,670 | +49.9% |
| 60011 | Barrington | $1,790 | +0.5% |
| 60015 | Deerfield | $2,670 | +49.9% |
| 60020 | Fox Lake | $1,650 | -7.4% |
| 60030 | Grayslake | $1,980 | +11.2% |
| 60031 | Gurnee | $2,030 | +14.0% |
| 60035 | Highland Park | $2,460 | +38.1% |
| 60037 | Fort Sheridan | $1,810 | +1.6% |
| 60040 | Highwood | $2,240 | +25.8% |
| 60041 | Ingleside | $1,320 | -25.9% |
| 60042 | Island Lake | $2,250 | +26.3% |
| 60044 | Lake Bluff | $2,100 | +17.9% |
| 60045 | Lake Forest | $2,670 | +49.9% |
| 60046 | Lake Villa | $2,040 | +14.5% |
| 60047 | Lake Zurich | $2,350 | +31.9% |
| 60048 | Libertyville | $2,000 | +12.3% |
| 60060 | Mundelein | $1,990 | +11.7% |
| 60061 | Vernon Hills | $2,390 | +34.2% |
| 60064 | North Chicago | $1,430 | -19.7% |
| 60069 | Lincolnshire | $2,670 | +49.9% |
| 60073 | Round Lake | $1,910 | +7.2% |
| 60075 | Russell | $1,590 | -10.7% |
| 60079 | Waukegan | $1,810 | +1.6% |
| 60083 | Wadsworth | $2,250 | +26.3% |
| 60084 | Wauconda | $1,640 | -7.9% |
| 60085 | Waukegan | $1,540 | -13.5% |
| 60086 | North Chicago | $1,781County rate | — |
| 60087 | Waukegan | $1,630 | -8.5% |
| 60088 | Great Lakes | $2,340 | +31.4% |
| 60089 | Buffalo Grove | $2,560 | +43.7% |
| 60096 | Winthrop Harbor | $1,510 | -15.2% |
| 60099 | Zion | $1,490 | -16.3% |
Counties sharing the Chicago-Joliet-Naperville metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,781 two-bedroom figure as Lake.
Nearby counties
Two-bedroom FMR, with how each compares to Lake.
McHenry County
22 mi · 311,133 people
$1,781
same rate
Cook County
32 mi · 5,225,367 people
$1,781
same rate
DuPage County
33 mi · 930,559 people
$1,781
same rate
Kane County
35 mi · 517,254 people
$1,781
same rate
Boone County
45 mi · 53,459 people
$1,175
-34%
DeKalb County
51 mi · 100,686 people
$1,373
-23%
Kendall County
54 mi · 132,795 people
$2,050
+15%
Will County
55 mi · 696,774 people
$1,781
same rate
Questions people ask
$1,781 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,480 for a studio, $1,581 for one bedroom, $2,294 for three and $2,653 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 Lake actually go for?
HUD's number is one input. Search any address in Lake for a rent estimate built from nearby comps. 3 free searches, no card.
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