The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Riverdale, IL 60827's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 60827 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $1,026 to a high of $1,254, with an average of $1,140.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,107, a maximum of $1,353, and an average of $1,230.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,260, peaking at a maximum of $1,540, and averaging at $1,400.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,602, a maximum of $1,958, and an average of $1,780.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,899 to a maximum of $2,321, with an average of $2,110.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Riverdale, IL 60827 Low Rent (90%) $1,026 $1,107 $1,260 $1,602 $1,899
Average Rent $1,140 $1,230 $1,400 $1,780 $2,110
High Rent(110%) $1,254 $1,353 $1,540 $1,958 $2,321
2023 Riverdale, IL 60827 Low Rent (90%) $837 $900 $1,035 $1,314 $1,557
Average Rent $930 $1,000 $1,150 $1,460 $1,730
High Rent (110%) $1,023 $1,100 $1,265 $1,606 $1,903
2022 Riverdale, IL 60827 Low Rent (90%) $765 $837 $963 $1,215 $1,449
Average Rent $850 $930 $1,070 $1,350 $1,610
High Rent(110%) $935 $1,023 $1,177 $1,485 $1,771
2021 Riverdale, IL 60827 Low Rent (90%) $711 $792 $918 $1,170 $1,395
Average Rent $790 $880 $1,020 $1,300 $1,550
High Rent (110%) $869 $968 $1,122 $1,430 $1,705
2020 Riverdale, IL 60827 Low Rent (90%) $684 $765 $891 $1,134 $1,350
Average Rent $760 $850 $990 $1,260 $1,500
High Rent(110%) $836 $935 $1,089 $1,386 $1,650
2019 Riverdale, IL 60827 Low Rent (90%) $675 $765 $891 $1,134 $1,359
Average Rent $750 $850 $990 $1,260 $1,510
High Rent (110%) $825 $935 $1,089 $1,386 $1,661


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