FY2027 Small Area FMR · Wolf Lake, IL

ZIP 62998 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 62998 (Wolf Lake, IL) is $990 a month, up 2.1% from FY2026. That is 6% above the Union County, IL area-wide FMR of $930.

2-bedroom SAFMR$990per month ▲ 2.1%

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

Rank in the area5thof 14 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$891

2 BR Small Area FMR$990

110% of SAFMR$1,089

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

Studio$710▲ 2.9%

1 BR$790▲ 3.9%

2 BR$990▲ 2.1%

3 BR$1,280▲ 2.4%

4 BR$1,450▲ 2.8%

FY2027 FY2026

Where 62998 sits in the Union County, IL area

Of the 14 ZIP codes HUD lists for the area, 62998 has the 5th highest two-bedroom Small Area FMR. Union 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 $990 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	$710	$639 – $781	$648	$690
1 bedroom	$790	$711 – $869	$711	$760
2 bedrooms	$990	$891 – $1,089	$930	$970
3 bedrooms	$1,280	$1,152 – $1,408	$1,146	$1,250
4 bedrooms	$1,450	$1,305 – $1,595	$1,292	$1,410

A household renting a two-bedroom home at the Small Area FMR of $990 needs about $39,600 a year to keep housing costs at 30% of income. The area median family income is $89,500 and the 80% low-income limit for four people is $71,750. ZIP code 62998 lies mainly in Union County. See the Union County, IL county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
62905	Alto Pass	5.9 mi	$930
63732	Altenburg	8.6 mi	$960
62952	Jonesboro	9.1 mi	$960
62975	Pomona	9.2 mi	$940
62942	Grand Tower	9.5 mi	$930
63755	Jackson	11.2 mi	$1,140

Questions

What is the Fair Market Rent for ZIP code 62998?

HUD's FY2027 Small Area Fair Market Rents for 62998 are $710 (studio), $790 (1 BR), $990 (2 BR), $1,280 (3 BR) and $1,450 (4 BR) a month.

What is the Section 8 payment standard in 62998?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 62998 that range is $891 to $1,089 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 62998?

The FY2026 income limits of the Union County, IL area apply: median family income $89,500, low-income (80%) limit $71,750 for a family of four.