FY2027 Small Area FMR · Colchester, IL
ZIP 62326 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 62326 (Colchester, IL) is $960 a month, unchanged from FY2026. That is 3% above the Hancock County, IL area-wide FMR of $930.
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 62326 sits in the Hancock County, IL area
Of the 23 ZIP codes HUD lists for the area, 62326 has the 8th highest two-bedroom Small Area FMR. Hancock 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 $960 for this ZIP code instead.
ZIP code 62326 crosses more than one HUD area. HUD also lists it under McDonough 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 | $670 | $603 – $737 | $648 | $660 |
| 1 bedroom | $740 | $666 – $814 | $772 | $730 |
| 2 bedrooms | $960 | $864 – $1,056 | $930 | $960 |
| 3 bedrooms | $1,220 | $1,098 – $1,342 | $1,116 | $1,240 |
| 4 bedrooms | $1,600 | $1,440 – $1,760 | $1,222 | $1,530 |
A household renting a two-bedroom home at the Small Area FMR of $960 needs about $38,400 a year to keep housing costs at 30% of income. The area median family income is $90,300 and the 80% low-income limit for four people is $72,250. ZIP code 62326 lies mainly in McDonough County and Hancock County. See the Hancock County, 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 62326?
HUD's FY2027 Small Area Fair Market Rents for 62326 are $670 (studio), $740 (1 BR), $960 (2 BR), $1,220 (3 BR) and $1,600 (4 BR) a month.
What is the Section 8 payment standard in 62326?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 62326 that range is $864 to $1,056 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 62326?
The FY2026 income limits of the Hancock County, IL area apply: median family income $90,300, low-income (80%) limit $72,250 for a family of four.