FY2026 Fair Market Rents — Springfield, IL MSA
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$829
1BR
$970
2BR
$1,203
3BR
$1,611
4BR
$1,682
Hours/week at min wage
62 hrs
to afford the 2BR FMR @ $15.00/hr (IL)
National rank
#357
of 661 U.S. metros (top 55% most expensive)
YoY change (2BR)
+6.3%
+$71 vs FY2025 · 5-yr +40.2%
Voucher payment standard
$1,083–$1,323
PHAs set HCV payment at 90–110% of the 2BR FMR
Springfield, IL MSA
Metropolitan area · IL · View full history · Income limits · LIHTC rents
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $829 | $9,948 |
| 1-Bedroom | $970 | $11,640 |
| 2-Bedroom | $1,203 | $14,436 |
| 3-Bedroom | $1,611 | $19,332 |
| 4-Bedroom | $1,682 | $20,184 |
Recent 2-Bedroom FMR Trend
FY2020 $802 → FY2026 $1,203
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $829 | $970 | $1,203 | $1,611 | $1,682 |
| FY2025 | $776 | $921 | $1,132 | $1,529 | $1,564 |
| FY2024 | $725 | $873 | $1,070 | $1,421 | $1,459 |
| FY2023 | $609 | $741 | $911 | $1,194 | $1,254 |
| FY2022 | $560 | $681 | $843 | $1,078 | $1,157 |
| FY2021 | $576 | $684 | $858 | $1,076 | $1,163 |
| FY2020 | $542 | $627 | $802 | $1,001 | $1,086 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $114,900
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $24,150 | $27,600 | $31,050 | $34,450 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $40,250 | $46,000 | $51,750 | $57,450 | $62,050 | $66,650 |
| 80% AMI (Low) | $64,350 | $73,550 | $82,750 | $91,900 | $99,300 | $106,650 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$14,436/yr
FMR as % of Area Median Income
12.6% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$48,120/yr
$4,010/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 | $1,005 | $1,149 | $1,292 | $1,551 | $1,666 |
| 60% AMI Maximum | $1,206 | $1,378 | $1,551 | $1,861 | $1,999 |
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 | $829 | $970 | $1,203 | $1,611 | $1,682 |
| Low HOME Rent | $1,006 | $1,150 | $1,293 | $1,436 | $1,551 |
Compare Springfield, IL MSA With Other IL Metros
vs. Bloomington, IL HUD Metro FMR Area
vs. Bloomington, IL MSA
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vs. Champaign-Urbana, IL MSA