Wabash 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).

$9922-bedroom FMR, FY2027

$7581-bedroom FMR, FY2027

$71,75080% income limit, family of 4 (FY2026)

$88,100Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Wabash County is $992 a month, up 8.3% from $916 in FY2026. Wabash County belongs to the Wabash County, IL FMR area (non-metro county), 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 Wabash County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$691	$632	+9.3%	$622 – $760
1 bedroom	$758	$698	+8.6%	$683 – $833
2 bedrooms	$992	$916	+8.3%	$893 – $1,091
3 bedrooms	$1,374	$1,274	+7.8%	$1,237 – $1,511
4 bedrooms	$1,433	$1,308	+9.6%	$1,290 – $1,576

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 Wabash County that is typically $893 to $1,091 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?

$30,000median income of renter households

$794Median gross rent, all units

32%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 $30,000 can afford about $750 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $992 is $242 (32.3%) more than that. To rent a two-bedroom at the FMR, a household needs $39,680 a year under the 30% rule, or $35,712 under the common landlord rule that income must be three times the rent.

Wabash County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$794 ±$97
Median income of renter households	$30,000 ±$11,214
Renters paying 30% or more of income (cost-burdened)	39.9% ±6.3
Renters paying 50% or more (severely cost-burdened)	26.2% ±6.7
Renter households (where the share can be computed)	939

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$633	$794	+25.4%
Median renter household income	$20,961	$30,000	+43.1%
Renters paying 30%+ of income	48.1%	39.9%	−8.2 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.

HUD income limits for Wabash County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $88,100 (FY2025: $90,500, −2.7%). 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%)	$18,850 −1.0%	$21,640 −0.5%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$31,400 −0.9%	$35,900 −0.8%	$40,400 −0.9%	$44,850 −0.9%	$48,450 −0.9%	$52,050 −0.9%	$55,650 −0.9%	$59,250 −0.8%
Low income (80%)	$50,250 −0.9%	$57,400 −0.9%	$64,600 −0.9%	$71,750 −0.9%	$77,500 −0.9%	$83,250 −0.9%	$89,000 −0.9%	$94,750 −0.9%

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.