FY2027 Small Area FMR · Frankfort Heights, IL

ZIP 62840 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 62840 (Frankfort Heights, IL) is $930 a month, up 1.1% from FY2026. That is 0% equal to the Franklin County, IL area-wide FMR of $930.

2-bedroom SAFMR$930per month ▲ 1.1%

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

Rank in the area16thof 22 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$837

2 BR Small Area FMR$930

110% of SAFMR$1,023

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

Studio$650▲ 3.2%

1 BR$710▲ 1.4%

2 BR$930▲ 1.1%

3 BR$1,230▲ 3.4%

4 BR$1,320▼ 0.8%

FY2027 FY2026

Where 62840 sits in the Franklin County, IL area

Of the 22 ZIP codes HUD lists for the area, 62840 has the 16th highest two-bedroom Small Area FMR. Franklin 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 $930 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	$650	$585 – $715	$648	$630
1 bedroom	$710	$639 – $781	$711	$700
2 bedrooms	$930	$837 – $1,023	$930	$920
3 bedrooms	$1,230	$1,107 – $1,353	$1,225	$1,190
4 bedrooms	$1,320	$1,188 – $1,452	$1,315	$1,330

A household renting a two-bedroom home at the Small Area FMR of $930 needs about $37,200 a year to keep housing costs at 30% of income. The area median family income is $75,100 and the 80% low-income limit for four people is $71,750. ZIP code 62840 lies mainly in Franklin County. See the Franklin County, IL county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
62812	Benton	1.4 mi	$930
62819	Buckner	4.2 mi	$1,120
62874	Orient	5.5 mi	$930
62891	Valier	5.7 mi	$1,230
62856	Logan	6.2 mi	$1,000
62822	Christopher	6.4 mi	$930

Questions

What is the Fair Market Rent for ZIP code 62840?

HUD's FY2027 Small Area Fair Market Rents for 62840 are $650 (studio), $710 (1 BR), $930 (2 BR), $1,230 (3 BR) and $1,320 (4 BR) a month.

What is the Section 8 payment standard in 62840?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 62840 that range is $837 to $1,023 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 62840?

The FY2026 income limits of the Franklin County, IL area apply: median family income $75,100, low-income (80%) limit $71,750 for a family of four.