FY2026 Fair Market Rents — Will County
Studio
$1,480
1BR
$1,581
2BR
$1,781
3BR
$2,294
4BR
$2,653
Will County, Illinois
FIPS 17197 · County-level FMR and income limit data
FMR Area: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $1,480 | $17,760 |
| 1-Bedroom | $1,581 | $18,972 |
| 2-Bedroom | $1,781 | $21,372 |
| 3-Bedroom | $2,294 | $27,528 |
| 4-Bedroom | $2,653 | $31,836 |
To afford the FY2026 2-bedroom FMR of $1,781/mo under the 30%-of-income rule, a household needs about
$71,240/yr ($5,937/mo). Area Median Income is $121,500.
At IL's state minimum wage of $15.00/hr, a worker would need to work 92 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $1,480 | $1,581 | $1,781 | $2,294 | $2,653 |
| FY2025 | $1,458 | $1,560 | $1,761 | $2,262 | $2,657 |
| FY2024 | $1,399 | $1,507 | $1,714 | $2,182 | $2,583 |
| FY2023 | $1,158 | $1,255 | $1,440 | $1,827 | $2,172 |
| FY2022 | $1,059 | $1,161 | $1,340 | $1,697 | $2,018 |
| FY2021 | $1,012 | $1,122 | $1,299 | $1,649 | $1,969 |
| FY2020 | $956 | $1,076 | $1,248 | $1,585 | $1,888 |
FY2026 Income Limits
Area Median Income: $121,500
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $25,550 | $29,200 | $32,850 | $36,450 | $39,400 | $44,360 |
| 50% AMI | $42,550 | $48,600 | $54,700 | $60,750 | $65,650 | $70,500 |
| 80% AMI | $68,050 | $77,800 | $87,500 | $97,200 | $105,000 | $112,800 |