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RentData.org Logo Shelby County Fair Market Rent FY 2023 Shelby County, IL Rental Data

Fair Market Rent Prices in Shelby County, IL :
$531 $588 $774 $979 $1,154
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Non-Metro

Fair Market Rent prices in Shelby County are very low compared to the national average. This FMR area is less expensive than 90% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Shelby County is $774 per month.

The previous year, rent for a two-bedroom home was $735 per month. This is a 5.31% increase year-over-year.

This FMR rate applies to Lakewood, IL, Strasburg, IL, Cowden, IL, Findlay, IL, Stewardson, IL, Tower Hill, IL, Shelbyville, IL and other cities within the region. The Metro Code or CBSA code for this region is NCNTY17173N17173.

Additionally, This Fair Market Rent (FMR) area Shelby County, IL spans one county or city in Illinois which is listed in the table below. Estimated population of Shelby County, IL FMR area is 21,623 people based on latest Census data.

Compared to the rest of Illinois, the Shelby County FMR area is less expensive than 75% 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 Shelby County. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Shelby County

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 $ 637
2-BR 2-Bedroom $ 839
3-BR 3-Bedroom $ 1061
4-BR 4-Bedroom $ 1251
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 Shelby County, IL FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Champaign & Sprngfld - Decatur.

County / Region Est. Population
Shelby County, IL 21,623
Zip Codes in Shelby County, IL

There are 7 unique zip codes in this Fair Market Rent (FMR) area:

62422, 62438, 62463, 62465, 62534, 62565 and 62571

Lookup Fair Market Rent by Zip Code

What's Next?

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