HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Stephenson County, Illinois (FY 2027)
$930 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Stephenson County, and it's the baseline every voucher in Stephenson is measured against.
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
97th 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 | -6.6% |
| 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 | $1,179 | $1,061–$1,297 | $47,160 | $22.67/hr | +4.9% |
| 4 bedroom | $1,458 | $1,312–$1,604 | $58,320 | $28.04/hr | +8.6% |
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 | $1,677 | $1,509–$1,845 |
| 6 bedroom Estimate | $1,895 | $1,706–$2,085 |
| 7 bedroom Estimate | $2,114 | $1,903–$2,325 |
| 8 bedroom Estimate | $2,333 | $2,100–$2,566 |
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 Stephenson actually rent for?
Search any address in Stephenson 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 Stephenson 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 | $471 | $545 | $698 | $915 | $1,165 | — |
| FY 2021 | $485 | $547 | $700 | $926 | $1,182 | +0.3% |
| FY 2022 | $501 | $559 | $735 | $948 | $1,174 | +5.0% |
| FY 2023 | $522 | $588 | $774 | $985 | $1,165 | +5.3% |
| FY 2024 | $552 | $620 | $814 | $997 | $1,136 | +5.2% |
| FY 2025 | $597 | $663 | $870 | $1,056 | $1,225 | +6.9% |
| FY 2026 | $694 | $698 | $916 | $1,124 | $1,342 | +5.3% |
| FY 2027In effect | $648 | $711 | $930 | $1,179 | $1,458 | +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 Stephenson, that runs from $648 for a studio up to $1,458 for four bedrooms, all five rates in the table above.
Because Stephenson 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, Cedarville included.
Among Illinois's 102 counties, Stephenson ranks 97th 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 43,768 people live here, 33rd 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 61048 (Lena) and $1,260 in 61019 (Davis), with the 14 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 |
|---|---|---|---|
| 61013 | Cedarville | $940 | +1.1% |
| 61018 | Dakota | $940 | +1.1% |
| 61019 | Davis | $1,260 | +35.5% |
| 61027 | Eleroy | $940 | +1.1% |
| 61032 | Freeport | $940 | +1.1% |
| 61039 | German Valley | $1,060 | +14.0% |
| 61044 | Kent | $960 | +3.2% |
| 61048 | Lena | $930 | 0.0% |
| 61050 | Mc Connell | $950 | +2.2% |
| 61060 | Orangeville | $930 | 0.0% |
| 61062 | Pearl City | $930 | 0.0% |
| 61067 | Ridott | $930 | 0.0% |
| 61070 | Rock City | $1,140 | +22.6% |
| 61089 | Winslow | $990 | +6.5% |
Nearby counties
Two-bedroom FMR, with how each compares to Stephenson.
Carroll County
25 mi · 15,576 people
$930
same rate
Jo Daviess County
28 mi · 21,851 people
$959
+3%
Winnebago County
28 mi · 283,292 people
$1,172
+26%
Ogle County
29 mi · 51,495 people
$1,080
+16%
Boone County
43 mi · 53,230 people
$1,172
+26%
Whiteside County
46 mi · 54,947 people
$945
+2%
Lee County
47 mi · 33,869 people
$930
same rate
DeKalb County
56 mi · 100,703 people
$1,481
+59%
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, $1,179 for three and $1,458 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 Stephenson actually go for?
HUD's number is one input. Search any address in Stephenson for a rent estimate built from nearby comps. Free to start, no card.
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