HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Shelby County, Illinois (FY 2027)
A two-bedroom in Shelby County carries a FY 2027 Fair Market Rent of $946 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Shelby keys off that figure.
Two-bedroom FMR
$946
-0.5% from FY 2026
Payment standard
$851–$1,041
90% to 110% of the FMR, two-bedroom
Income to afford
$37,840
a year, with rent at 30% of income
Rank in Illinois
55th 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 | $659 | $593–$725 | $26,360 | $12.67/hr | +0.5% |
| 1 bedroom | $766 | $689–$843 | $30,640 | $14.73/hr | -2.9% |
| 2 bedroom | $946 | $851–$1,041 | $37,840 | $18.19/hr | -0.5% |
| 3 bedroom | $1,127 | $1,014–$1,240 | $45,080 | $21.67/hr | -1.1% |
| 4 bedroom | $1,400 | $1,260–$1,540 | $56,000 | $26.92/hr | -2.4% |
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 | $1,610 | $1,449–$1,771 |
| 6 bedroom Estimate | $1,820 | $1,638–$2,002 |
| 7 bedroom Estimate | $2,030 | $1,827–$2,233 |
| 8 bedroom Estimate | $2,240 | $2,016–$2,464 |
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 Shelby actually rent for?
Search any address in Shelby 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 Shelby somewhere between $851 and $1,041. 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.
$946 a month is affordable, by HUD's 30% rule, on an income of roughly $37,840 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%$851 | Voucher pays at 100%$946 | Voucher pays at 110%$1,041 |
|---|---|---|---|---|
| $2,500 | $750 | $101 | $196 | $291 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went down 1% from FY 2026 ($951) to FY 2027 ($946). Since FY 2020 it's up 36% in total, about 4.4% 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 | $474 | $605 | $698 | $1,007 | $1,192 | — |
| FY 2021 | $476 | $608 | $700 | $1,002 | $1,183 | +0.3% |
| FY 2022 | $503 | $618 | $735 | $1,044 | $1,227 | +5.0% |
| FY 2023 | $531 | $588 | $774 | $979 | $1,154 | +5.3% |
| FY 2024 | $574 | $637 | $837 | $1,012 | $1,189 | +8.1% |
| FY 2025 | $634 | $704 | $924 | $1,113 | $1,346 | +10.4% |
| FY 2026 | $656 | $789 | $951 | $1,140 | $1,435 | +2.9% |
| FY 2027In effect | $659 | $766 | $946 | $1,127 | $1,400 | -0.5% |
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 Shelby, that runs from $659 for a studio up to $1,400 for four bedrooms, all five rates in the table above.
Because Shelby 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, Windsor included.
Among Illinois's 102 counties, Shelby ranks 55th for two-bedroom FMR. That's within a couple percent of the state median of $958 and about 11% below the national median county at $1,063. About 20,720 people live here, 56th 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 61957 (Windsor) and $1,160 in 62465 (Strasburg), with the 13 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 |
|---|---|---|---|
| 61957 | Windsor | $930 | -1.7% |
| 62422 | Cowden | $940 | -0.6% |
| 62431 | Herrick | $960 | +1.5% |
| 62438 | Lakewood | $930 | -1.7% |
| 62444 | Mode | $1,020 | +7.8% |
| 62462 | Sigel | $930 | -1.7% |
| 62463 | Stewardson | $970 | +2.5% |
| 62465 | Strasburg | $1,160 | +22.6% |
| 62534 | Findlay | $1,010 | +6.8% |
| 62550 | Moweaqua | $1,080 | +14.2% |
| 62553 | Oconee | $1,030 | +8.9% |
| 62565 | Shelbyville | $930 | -1.7% |
| 62571 | Tower Hill | $930 | -1.7% |
Nearby counties
Two-bedroom FMR, with how each compares to Shelby.
Moultrie County
20 mi · 14,424 people
$930
-2%
Effingham County
23 mi · 34,522 people
$930
-2%
Christian County
29 mi · 33,538 people
$939
-1%
Cumberland County
29 mi · 10,334 people
$930
-2%
Fayette County
29 mi · 21,315 people
$930
-2%
Coles County
33 mi · 46,777 people
$950
same rate
Macon County
36 mi · 101,849 people
$1,091
+15%
Montgomery County
37 mi · 27,942 people
$930
-2%
Questions people ask
$946 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $659 for a studio, $766 for one bedroom, $1,127 for three and $1,400 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 Shelby actually go for?
HUD's number is one input. Search any address in Shelby for a rent estimate built from nearby comps. Free to start, no card.
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