FY2027 Small Area FMR · Farmer City, IL
ZIP 61842 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 61842 (Farmer City, IL) is $1,180 a month, down 2.5% from FY2026. That is 8% below the Bloomington, IL area-wide FMR of $1,287.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 61842 sits in the Bloomington, IL area
Of the 38 ZIP codes HUD lists for the area, 61842 has the 22nd highest two-bedroom Small Area FMR. Bloomington, 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 $1,287 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,180 for this ZIP code instead.
ZIP code 61842 crosses more than one HUD area. HUD also lists it under Champaign-Urbana, IL (same figures) and De Witt County, IL (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $850 | $765 – $935 | $941 | $840 |
| 1 bedroom | $900 | $810 – $990 | $996 | $930 |
| 2 bedrooms | $1,180 | $1,062 – $1,298 | $1,287 | $1,210 |
| 3 bedrooms | $1,550 | $1,395 – $1,705 | $1,685 | $1,460 |
| 4 bedrooms | $1,820 | $1,638 – $2,002 | $1,691 | $2,020 |
A household renting a two-bedroom home at the Small Area FMR of $1,180 needs about $47,200 a year to keep housing costs at 30% of income. The area median family income is $117,000 and the 80% low-income limit for four people is $93,600. ZIP code 61842 lies mainly in De Witt County, Piatt County and McLean County. See the Bloomington, IL county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 61842?
HUD's FY2027 Small Area Fair Market Rents for 61842 are $850 (studio), $900 (1 BR), $1,180 (2 BR), $1,550 (3 BR) and $1,820 (4 BR) a month.
What is the Section 8 payment standard in 61842?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 61842 that range is $1,062 to $1,298 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 61842?
The FY2026 income limits of the Bloomington, IL area apply: median family income $117,000, low-income (80%) limit $93,600 for a family of four.