FY2027 Small Area FMR · Savoy, IL

ZIP 61874 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 61874 (Savoy, IL) is $1,070 a month, up 4.9% from FY2026. That is 9% below the Champaign-Urbana, IL area-wide FMR of $1,173.

2-bedroom SAFMR$1,070per month ▲ 4.9%

Area-wide 2 BR FMR$1,173Champaign-Urbana, IL

Rank in the area32ndof 54 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$963

2 BR Small Area FMR$1,070

110% of SAFMR$1,177

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

Studio$900▲ 4.7%

1 BR$910▲ 5.8%

2 BR$1,070▲ 4.9%

3 BR$1,340▲ 2.3%

4 BR$1,410▲ 4.4%

FY2027 FY2026

Where 61874 sits in the Champaign-Urbana, IL area

Of the 54 ZIP codes HUD lists for the area, 61874 has the 32nd highest two-bedroom Small Area FMR. Champaign-Urbana, 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 $1,173 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,070 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	$900	$810 – $990	$983	$860
1 bedroom	$910	$819 – $1,001	$996	$860
2 bedrooms	$1,070	$963 – $1,177	$1,173	$1,020
3 bedrooms	$1,340	$1,206 – $1,474	$1,474	$1,310
4 bedrooms	$1,410	$1,269 – $1,551	$1,542	$1,350

A household renting a two-bedroom home at the Small Area FMR of $1,070 needs about $42,800 a year to keep housing costs at 30% of income. The area median family income is $114,300 and the 80% low-income limit for four people is $88,700. ZIP code 61874 lies mainly in Champaign County. See the Champaign-Urbana, IL metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
61820	Champaign	4.2 mi	$1,350
61821	Champaign	4.4 mi	$1,180
61801	Urbana	4.9 mi	$1,140
61880	Tolono	5.1 mi	$1,010
61822	Champaign	6.8 mi	$1,480
61864	Philo	7.4 mi	$1,280

Questions

What is the Fair Market Rent for ZIP code 61874?

HUD's FY2027 Small Area Fair Market Rents for 61874 are $900 (studio), $910 (1 BR), $1,070 (2 BR), $1,340 (3 BR) and $1,410 (4 BR) a month.

What is the Section 8 payment standard in 61874?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 61874 that range is $963 to $1,177 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 61874?

The FY2026 income limits of the Champaign-Urbana, IL area apply: median family income $114,300, low-income (80%) limit $88,700 for a family of four.