What is the Fair Market Rent for a 2-bedroom in Bloomington, IL HUD Metro FMR Area?

The HUD Fair Market Rent for a 2-bedroom unit in Bloomington, IL HUD Metro FMR Area is $853 per month for fiscal year 2021. The studio FMR is $603, 1-bedroom is $682, 3-bedroom is $1,215, and 4-bedroom is $1,477.

What income do you need to afford the FMR in Bloomington, IL HUD Metro FMR Area?

Using the standard 30%-of-income affordability rule, a household would need to earn about $34,120 per year ($2,843 per month) to afford the FY2021 2-bedroom Fair Market Rent of $853 in Bloomington, IL HUD Metro FMR Area.

FY2021 Fair Market Rents — Bloomington, IL HUD Metro FMR Area

The HUD-published Fair Market Rents for FY2021 in this area are:

Studio

$603

1BR

$682

2BR

$853

3BR

$1,215

4BR

$1,477

Hours/week at min wage

44 hrs

to afford the 2BR FMR @ $15.00/hr (IL)

National rank

#367

of 632 U.S. metros (top 59% most expensive)

YoY change (2BR)

+3.1%

+$26 vs FY2020

Voucher payment standard

$768–$938

PHAs set HCV payment at 90–110% of the 2BR FMR

Bloomington, IL HUD Metro FMR Area

Metropolitan area · IL · View full history · Income limits · LIHTC rents

FY2021 Fair Market Rents

Bedroom Size	Monthly FMR	Annual Equivalent
Efficiency (Studio)	$603	$7,236
1-Bedroom	$682	$8,184
2-Bedroom	$853	$10,236
3-Bedroom	$1,215	$14,580
4-Bedroom	$1,477	$17,724

Recent 2-Bedroom FMR Trend

FY2017 $810 → FY2021 $853

Fiscal Year	Studio	1BR	2BR	3BR	4BR
FY2021	$603	$682	$853	$1,215	$1,477
FY2020	$579	$648	$827	$1,160	$1,423
FY2019	$585	$647	$846	$1,185	$1,470
FY2018	$613	$677	$894	$1,229	$1,534
FY2017	$553	$613	$810	$1,099	$1,408

View full FMR history back to FY2000 →

FY2021 Income Limits

Area Median Income (AMI): $93,200

AMI Level	1p	2p	3p	4p	5p	6p
30% AMI (Extremely Low)	$19,600	$22,400	$25,200	$27,950	$31,040	$35,580
50% AMI (Very Low)	$32,650	$37,300	$41,950	$46,600	$50,350	$54,100
80% AMI (Low)	$52,200	$59,650	$67,100	$74,550	$80,550	$86,500

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR

$10,236/yr

FMR as % of Area Median Income

11% of AMI

Under 30% — affordable at median income

Income Needed (30% rule, 2BR)

$34,120/yr

$2,843/mo gross income

FY2021 LIHTC Maximum Rents

Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →

AMI Band	Studio	1BR	2BR	3BR	4BR
50% AMI Maximum	$815	$932	$1,048	$1,258	$1,351
60% AMI Maximum	$978	$1,118	$1,258	$1,509	$1,621

FY2021 HOME Program Rent Limits

Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →

Limit Type	Studio	1BR	2BR	3BR	4BR
High HOME Rent	$603	$682	$853	$1,215	$1,477
Low HOME Rent	$816	$932	$1,048	$1,165	$1,258

Compare Bloomington, IL HUD Metro FMR Area With Other IL Metros

vs. Bloomington, IL MSA vs. Bond County, IL HUD Metro FMR Area vs. Cape Girardeau, MO-IL MSA vs. Champaign-Urbana, IL MSA vs. Chicago-Joliet-Naperville, IL HUD Metro FMR Area