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

Canton, IL 61520'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 61520 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 $603 to a high of $737, with an average of $670.
One-bedroom: One-bedroom rental prices vary, with a minimum of $603, a maximum of $737, and an average of $670.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $792, peaking at a maximum of $968, and averaging at $880.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,035, a maximum of $1,265, and an average of $1,150.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,224 to a maximum of $1,496, with an average of $1,360.

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 Canton, IL 61520 Low Rent (90%) $603 $603 $792 $1,035 $1,224
Average Rent $670 $670 $880 $1,150 $1,360
High Rent(110%) $737 $737 $968 $1,265 $1,496
2024 Canton, IL 61520 Low Rent (90%) $603 $603 $792 $1,035 $1,224
Average Rent $670 $670 $880 $1,150 $1,360
High Rent (110%) $737 $737 $968 $1,265 $1,496
2023 Canton, IL 61520 Low Rent (90%) $576 $585 $765 $945 $1,260
Average Rent $640 $650 $850 $1,050 $1,400
High Rent(110%) $704 $715 $935 $1,155 $1,540
2022 Canton, IL 61520 Low Rent (90%) $531 $567 $720 $927 $1,125
Average Rent $590 $630 $800 $1,030 $1,250
High Rent (110%) $649 $693 $880 $1,133 $1,375
2021 Canton, IL 61520 Low Rent (90%) $585 $621 $792 $1,026 $1,089
Average Rent $650 $690 $880 $1,140 $1,210
High Rent(110%) $715 $759 $968 $1,254 $1,331
2020 Canton, IL 61520 Low Rent (90%) $522 $558 $711 $918 $999
Average Rent $580 $620 $790 $1,020 $1,110
High Rent (110%) $638 $682 $869 $1,122 $1,221
2019 Canton, IL 61520 Low Rent (90%) $522 $576 $729 $936 $1,053
Average Rent $580 $640 $810 $1,040 $1,170
High Rent(110%) $638 $704 $891 $1,144 $1,287


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