FY2027 Small Area FMR · Hillsboro, IL

ZIP 62049 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 62049 (Hillsboro, IL) is $1,000 a month, down 2.0% from FY2026. That is 8% above the Montgomery County, IL area-wide FMR of $930.

2-bedroom SAFMR$1,000per month ▼ 2.0%

Area-wide 2 BR FMR$930Montgomery County, IL

Rank in the area14thof 29 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$900

2 BR Small Area FMR$1,000

110% of SAFMR$1,100

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

Studio$750▼ 1.3%

1 BR$770▼ 1.3%

2 BR$1,000▼ 2.0%

3 BR$1,190▼ 2.5%

4 BR$1,370▼ 2.1%

FY2027 FY2026

Where 62049 sits in the Montgomery County, IL area

Of the 29 ZIP codes HUD lists for the area, 62049 has the 14th highest two-bedroom Small Area FMR. Montgomery 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 $930 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,000 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	$750	$675 – $825	$700	$760
1 bedroom	$770	$693 – $847	$716	$780
2 bedrooms	$1,000	$900 – $1,100	$930	$1,020
3 bedrooms	$1,190	$1,071 – $1,309	$1,108	$1,220
4 bedrooms	$1,370	$1,233 – $1,507	$1,277	$1,400

A household renting a two-bedroom home at the Small Area FMR of $1,000 needs about $40,000 a year to keep housing costs at 30% of income. The area median family income is $93,600 and the 80% low-income limit for four people is $74,900. ZIP code 62049 lies mainly in Montgomery County. See the Montgomery County, IL county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
62089	Taylor Springs	0.8 mi	$930
62051	Irving	6.4 mi	$1,030
62015	Butler	6.5 mi	$1,140
62077	Panama	7.3 mi	$1,220
62017	Coffeen	7.6 mi	$1,140
62019	Donnellson	8.1 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 62049?

HUD's FY2027 Small Area Fair Market Rents for 62049 are $750 (studio), $770 (1 BR), $1,000 (2 BR), $1,190 (3 BR) and $1,370 (4 BR) a month.

What is the Section 8 payment standard in 62049?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 62049 that range is $900 to $1,100 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 62049?

The FY2026 income limits of the Montgomery County, IL area apply: median family income $93,600, low-income (80%) limit $74,900 for a family of four.