FY2027 Small Area FMR · Hamilton, IL

ZIP 62341 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 62341 (Hamilton, IL) is $1,030 a month, up 4.0% from FY2026. That is 11% above the Hancock County, IL area-wide FMR of $930.

2-bedroom SAFMR$1,030per month ▲ 4.0%

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

Rank in the area3rdof 23 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$927

2 BR Small Area FMR$1,030

110% of SAFMR$1,133

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

Studio$720▲ 5.9%

1 BR$850▼ 1.2%

2 BR$1,030▲ 4.0%

3 BR$1,240▲ 3.3%

4 BR$1,350▲ 3.1%

FY2027 FY2026

Where 62341 sits in the Hancock County, IL area

Of the 23 ZIP codes HUD lists for the area, 62341 has the 3rd 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 $1,030 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	$720	$648 – $792	$648	$680
1 bedroom	$850	$765 – $935	$772	$860
2 bedrooms	$1,030	$927 – $1,133	$930	$990
3 bedrooms	$1,240	$1,116 – $1,364	$1,116	$1,200
4 bedrooms	$1,350	$1,215 – $1,485	$1,222	$1,310

A household renting a two-bedroom home at the Small Area FMR of $1,030 needs about $41,200 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 62341 lies mainly in Hancock County. See the Hancock County, IL county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
62334	Elvaston	4.2 mi	$950
62336	Ferris	7.1 mi	$930
62354	Nauvoo	7.5 mi	$970
52632	Keokuk	7.8 mi	$980
62313	Basco	8.3 mi	$930
62321	Carthage	10.6 mi	$930

Questions

What is the Fair Market Rent for ZIP code 62341?

HUD's FY2027 Small Area Fair Market Rents for 62341 are $720 (studio), $850 (1 BR), $1,030 (2 BR), $1,240 (3 BR) and $1,350 (4 BR) a month.

What is the Section 8 payment standard in 62341?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 62341 that range is $927 to $1,133 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 62341?

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.