FY2027 Small Area FMR · Spring Valley, IL

ZIP 61362 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 61362 (Spring Valley, IL) is $1,160 a month, down 2.5% from FY2026. That is 18% above the Bureau County, IL area-wide FMR of $981.

2-bedroom SAFMR$1,160per month ▼ 2.5%

Area-wide 2 BR FMR$981Bureau County, IL

Rank in the area3rdof 32 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,044

2 BR Small Area FMR$1,160

110% of SAFMR$1,276

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$810▼ 1.2%

1 BR$890▼ 2.2%

2 BR$1,160▼ 2.5%

3 BR$1,440▼ 2.0%

4 BR$1,600▼ 3.0%

FY2027 FY2026

Where 61362 sits in the Bureau County, IL area

Of the 32 ZIP codes HUD lists for the area, 61362 has the 3rd highest two-bedroom Small Area FMR. Bureau County, IL is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $981 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,160 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$810	$729 – $891	$683	$820
1 bedroom	$890	$801 – $979	$750	$910
2 bedrooms	$1,160	$1,044 – $1,276	$981	$1,190
3 bedrooms	$1,440	$1,296 – $1,584	$1,217	$1,470
4 bedrooms	$1,600	$1,440 – $1,760	$1,352	$1,650

A household renting a two-bedroom home at the Small Area FMR of $1,160 needs about $46,400 a year to keep housing costs at 30% of income. The area median family income is $91,900 and the 80% low-income limit for four people is $73,500. ZIP code 61362 lies mainly in Bureau County. See the Bureau County, IL county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
61329	Ladd	1.9 mi	$960
61359	Seatonville	2.0 mi	$940
61320	Dalzell	3.3 mi	$1,040
61354	Peru	5.1 mi	$980
61317	Cherry	5.2 mi	$940
61312	Arlington	5.4 mi	$1,220

Questions

What is the Fair Market Rent for ZIP code 61362?

HUD's FY2027 Small Area Fair Market Rents for 61362 are $810 (studio), $890 (1 BR), $1,160 (2 BR), $1,440 (3 BR) and $1,600 (4 BR) a month.

What is the Section 8 payment standard in 61362?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 61362 that range is $1,044 to $1,276 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 61362?

The FY2026 income limits of the Bureau County, IL area apply: median family income $91,900, low-income (80%) limit $73,500 for a family of four.