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RentData.org Logo Decatur Fair Market Rent FY 2022 Decatur, IL MSA Rental Data

Fair Market Rent Prices in Decatur, IL :
$543 $641 $794 $1,110 $1,142
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Metro Area

Fair Market Rent prices in Decatur are average compared to the national average. This FMR area is more expensive than 57% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Decatur is $794 per month.

The previous year, rent for a two-bedroom home was $772 per month. This is a 2.85% increase year-over-year.

This FMR rate applies to Cisco, IL, Boody, IL, Elwin, IL, Harristown, IL, Niantic, IL, Dalton City, IL, Illiopolis, IL, Warrensburg, IL, Cerro Gordo, IL, Oreana, IL and other cities within the region. The Metro Code or CBSA code for this region is METRO19500M19500.

Additionally, This Fair Market Rent (FMR) area Decatur, IL MSA spans one county or city in Illinois which is listed in the table below. Estimated population of Decatur, IL MSA FMR area is 107,585 people based on latest Census data.

Compared to the rest of Illinois, the Decatur FMR area is more expensive than 80% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Decatur. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Decatur

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 575
1-BR 1-Bedroom $ 678
2-BR 2-Bedroom $ 840
3-BR 3-Bedroom $ 1174
4-BR 4-Bedroom $ 1208
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Decatur, IL MSA FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Champaign & Sprngfld - Decatur.

County / Region Est. Population
Decatur, IL Metro 107,585
Zip Codes in Decatur, IL MSA

There are 22 unique zip codes in this Fair Market Rent (FMR) area:

61818, 61830, 61914, 61925, 61937, 62501, 62514, 62521, 62522, 62523, 62524, 62525, 62526, 62532, 62535, 62537, 62539, 62544, 62549, 62551, 62554 and 62573

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What's Next?

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