Grundy County, IL: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,6132-bedroom FMR, FY2027

$1,2331-bedroom FMR, FY2027

$92,90080% income limit, family of 4 (FY2026)

$116,100Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Grundy County is $1,613 a month, up 10.6% from $1,459 in FY2026. Grundy County belongs to the Grundy County, IL HUD Metro FMR Area FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Grundy County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,189	$1,032	+15.2%	$1,071 – $1,307
1 bedroom	$1,233	$1,118	+10.3%	$1,110 – $1,356
2 bedrooms	$1,613	$1,459	+10.6%	$1,452 – $1,774
3 bedrooms	$2,219	$1,979	+12.1%	$1,998 – $2,440
4 bedrooms	$2,567	$2,203	+16.5%	$2,311 – $2,823

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Grundy County that is typically $1,452 to $1,774 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$60,212median income of renter households

$1,177Median gross rent, all units

23%Rent-to-income ratio (median rent ÷ median renter income)

40%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $60,212 can afford about $1,505 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,613 is $108 (7.2%) more than that. To rent a two-bedroom at the FMR, a household needs $64,520 a year under the 30% rule, or $58,068 under the common landlord rule that income must be three times the rent.

Grundy County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,177 ±$59
Median income of renter households	$60,212 ±$8,001
Renters paying 30% or more of income (cost-burdened)	40.2% ±7.0
Renters paying 50% or more (severely cost-burdened)	23.3% ±5.8
Renter households (where the share can be computed)	5,016

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$999	$1,177	+17.8%
Median renter household income	$52,564	$60,212	+14.5%
Renters paying 30%+ of income	32.5%	40.2%	+7.7 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,320 to $2,320 depending on the ZIP code.

All 17 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
60407	$1,480	$1,550	$1,890	$2,520	$2,900
60408	$1,330	$1,410	$1,590	$2,040	$2,340
60410	$1,870	$1,970	$2,320	$3,050	$3,500
60416	$1,140	$1,180	$1,540	$2,120	$2,450
60420	$930	$1,010	$1,320	$1,790	$1,990
60424	$1,050	$1,090	$1,420	$1,950	$2,260
60437	$930	$1,010	$1,320	$1,790	$1,990
60444	$970	$1,010	$1,320	$1,820	$2,100
60447	$1,520	$1,570	$2,010	$2,710	$3,090
60450	$1,280	$1,410	$1,850	$2,540	$2,630
60470	$930	$1,010	$1,320	$1,790	$1,990
60474	$1,380	$1,430	$1,870	$2,570	$2,980
60479	$1,170	$1,220	$1,590	$2,190	$2,530
60481	$1,220	$1,290	$1,460	$1,880	$2,150
60541	$1,510	$1,520	$1,990	$2,610	$2,810
60961	$1,190	$1,310	$1,720	$2,240	$2,380
61360	$930	$1,010	$1,320	$1,790	$1,990

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Grundy County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $116,100 (FY2025: $118,800, −2.3%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$24,400 −2.4%	$27,900 −2.3%	$31,400 −2.2%	$34,850 −2.2%	$38,680 +0.3%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$40,650 −2.3%	$46,450 −2.3%	$52,250 −2.3%	$58,050 −2.3%	$62,700 −2.3%	$67,350 −2.3%	$72,000 −2.3%	$76,650 −2.3%
Low income (80%)	$65,050 −2.3%	$74,350 −2.2%	$83,650 −2.2%	$92,900 −2.3%	$100,350 −2.3%	$107,800 −2.3%	$115,200 −2.3%	$122,650 −2.3%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.