FY2026 Fair Market Rents — Boone County
Studio
$810
1BR
$895
2BR
$1,175
3BR
$1,555
4BR
$1,594
Boone County, Illinois
FIPS 17007 · County-level FMR and income limit data
FMR Area: Rockford, IL MSA
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $810 | $9,720 |
| 1-Bedroom | $895 | $10,740 |
| 2-Bedroom | $1,175 | $14,100 |
| 3-Bedroom | $1,555 | $18,660 |
| 4-Bedroom | $1,594 | $19,128 |
To afford the FY2026 2-bedroom FMR of $1,175/mo under the 30%-of-income rule, a household needs about
$47,000/yr ($3,917/mo). Area Median Income is $89,400.
At IL's state minimum wage of $15.00/hr, a worker would need to work 61 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $810 | $895 | $1,175 | $1,555 | $1,594 |
| FY2025 | $810 | $900 | $1,181 | $1,561 | $1,603 |
| FY2024 | $699 | $785 | $1,031 | $1,380 | $1,423 |
| FY2023 | $625 | $710 | $935 | $1,262 | $1,309 |
| FY2022 | $555 | $635 | $836 | $1,140 | $1,214 |
| FY2021 | $527 | $606 | $799 | $1,085 | $1,178 |
| FY2020 | $540 | $629 | $828 | $1,122 | $1,222 |
FY2026 Income Limits
Area Median Income: $89,400
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $18,850 | $21,640 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $31,400 | $35,900 | $40,400 | $44,850 | $48,450 | $52,050 |
| 80% AMI | $50,250 | $57,400 | $64,600 | $71,750 | $77,500 | $83,250 |