HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Cortland County, New York (FY 2027)
$1,171 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Cortland County, and it's the baseline every voucher in Cortland is measured against.
Two-bedroom FMR
$1,171
-2.3% from FY 2026
Payment standard
$1,054–$1,288
90% to 110% of the FMR, two-bedroom
Income to afford
$46,840
a year, with rent at 30% of income
Rank in New York
45th of 62
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $934 | $841–$1,027 | $37,360 | $17.96/hr | -2.1% |
| 1 bedroom | $940 | $846–$1,034 | $37,600 | $18.08/hr | -2.1% |
| 2 bedroom | $1,171 | $1,054–$1,288 | $46,840 | $22.52/hr | -2.3% |
| 3 bedroom | $1,473 | $1,326–$1,620 | $58,920 | $28.33/hr | -2.5% |
| 4 bedroom | $1,957 | $1,761–$2,153 | $78,280 | $37.63/hr | -2.6% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,251 | $2,026–$2,476 |
| 6 bedroom Estimate | $2,544 | $2,290–$2,798 |
| 7 bedroom Estimate | $2,838 | $2,554–$3,122 |
| 8 bedroom Estimate | $3,131 | $2,818–$3,444 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Cortland actually rent for?
Search any address in Cortland for a rent estimate built from nearby comps, with the HUD figure right next to it.
No card needed
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Cortland somewhere between $1,054 and $1,288. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,171 a month is affordable, by HUD's 30% rule, on an income of roughly $46,840 a year. Put another way, $23 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,054 | Voucher pays at 100%$1,171 | Voucher pays at 110%$1,288 |
|---|---|---|---|---|
| $2,500 | $750 | $304 | $421 | $538 |
| $4,000 | $1,200 | $0 | $0 | $88 |
Rate history
The two-bedroom rate went down 2% from FY 2026 ($1,198) to FY 2027 ($1,171). Since FY 2020 it's up 38% in total, about 4.7% a year. The New York median moved up 2% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $666 | $717 | $849 | $1,070 | $1,199 | — |
| FY 2021 | $678 | $733 | $870 | $1,083 | $1,285 | +2.5% |
| FY 2022 | $697 | $723 | $867 | $1,072 | $1,384 | -0.3% |
| FY 2023 | $775 | $780 | $947 | $1,153 | $1,613 | +9.2% |
| FY 2024 | $800 | $805 | $992 | $1,215 | $1,683 | +4.8% |
| FY 2025 | $896 | $901 | $1,118 | $1,387 | $1,877 | +12.7% |
| FY 2026 | $954 | $960 | $1,198 | $1,510 | $2,010 | +7.2% |
| FY 2027In effect | $934 | $940 | $1,171 | $1,473 | $1,957 | -2.3% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Cortland, that runs from $934 for a studio up to $1,957 for four bedrooms, all five rates in the table above.
Because Cortland sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Cincinnatus included.
Among New York's 62 counties, Cortland ranks 45th for two-bedroom FMR. That's about 15% below the state median of $1,385 and about 10% above the national median county at $1,063. About 46,246 people live here, 52nd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,080 in 13040 (Cincinnatus) and $1,580 in 13045 (Cortland), with the 11 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 13040 | Cincinnatus | $1,080 | -7.8% |
| 13045 | Cortland | $1,580 | +34.9% |
| 13056 | East Homer | $1,171County rate | — |
| 13077 | Homer | $1,400 | +19.6% |
| 13087 | Little York | $1,380 | +17.8% |
| 13101 | Mc Graw | $1,160 | -0.9% |
| 13141 | Preble | $1,320 | +12.7% |
| 13158 | Truxton | $1,260 | +7.6% |
| 13738 | Blodgett Mills | $1,160 | -0.9% |
| 13784 | Harford | $1,350 | +15.3% |
| 13803 | Marathon | $1,100 | -6.1% |
| 13863 | Willet | $1,130 | -3.5% |
Nearby counties
Two-bedroom FMR, with how each compares to Cortland.
Tompkins County
20 mi · 104,537 people
$1,709
+46%
Chenango County
25 mi · 46,321 people
$1,014
-13%
Onondaga County
30 mi · 471,129 people
$1,493
+27%
Madison County
32 mi · 67,328 people
$1,493
+27%
Broome County
33 mi · 197,378 people
$1,219
+4%
Tioga County
33 mi · 47,864 people
$1,219
+4%
Cayuga County
34 mi · 75,102 people
$1,074
-8%
Seneca County
38 mi · 32,920 people
$1,145
-2%
Questions people ask
$1,171 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $934 for a studio, $940 for one bedroom, $1,473 for three and $1,957 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Cortland actually go for?
HUD's number is one input. Search any address in Cortland for a rent estimate built from nearby comps. Free to start, no card.
Free tier. No credit card.