FY2026 Fair Market Rents — Franklin County, IL
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$632
1BR
$698
2BR
$916
3BR
$1,181
4BR
$1,329
Hours/week at min wage
47 hrs
to afford the 2BR FMR @ $15.00/hr (IL)
YoY change (2BR)
+5.3%
+$46 vs FY2025 · 5-yr +30.5%
Voucher payment standard
$824–$1,008
PHAs set HCV payment at 90–110% of the 2BR FMR
Franklin County, IL
Non-Metropolitan area · IL · View full history · Income limits · LIHTC rents
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $632 | $7,584 |
| 1-Bedroom | $698 | $8,376 |
| 2-Bedroom | $916 | $10,992 |
| 3-Bedroom | $1,181 | $14,172 |
| 4-Bedroom | $1,329 | $15,948 |
Recent 2-Bedroom FMR Trend
FY2020 $698 → FY2026 $916
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $632 | $698 | $916 | $1,181 | $1,329 |
| FY2025 | $597 | $663 | $870 | $1,104 | $1,255 |
| FY2024 | $547 | $614 | $807 | $1,018 | $1,127 |
| FY2023 | $518 | $588 | $774 | $972 | $1,040 |
| FY2022 | $488 | $559 | $735 | $916 | $997 |
| FY2021 | $474 | $533 | $702 | $885 | $952 |
| FY2020 | $526 | $530 | $698 | $891 | $946 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $75,100
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $18,850 | $21,640 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $31,400 | $35,900 | $40,400 | $44,850 | $48,450 | $52,050 |
| 80% AMI (Low) | $50,250 | $57,400 | $64,600 | $71,750 | $77,500 | $83,250 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$10,992/yr
FMR as % of Area Median Income
14.6% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$36,640/yr
$3,053/mo gross income
FY2026 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 | $657 | $751 | $844 | $1,013 | $1,088 |
| 60% AMI Maximum | $788 | $901 | $1,013 | $1,216 | $1,306 |
FY2026 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 | $632 | $698 | $916 | $1,181 | $1,220 |
| Low HOME Rent | $785 | $897 | $1,010 | $1,121 | $1,211 |
Compare Franklin County, IL With Other IL Metros
vs. Bloomington, IL HUD Metro FMR Area
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vs. Champaign-Urbana, IL MSA