HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Otsego County, New York (FY 2027)
$1,235 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Otsego County, and it's the baseline every voucher in Otsego is measured against.
Two-bedroom FMR
$1,235
+0.6% from FY 2026
Payment standard
$1,112–$1,359
90% to 110% of the FMR, two-bedroom
Income to afford
$49,400
a year, with rent at 30% of income
Rank in New York
38th 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 | $860 | $774–$946 | $34,400 | $16.54/hr | +1.5% |
| 1 bedroom | $961 | $865–$1,057 | $38,440 | $18.48/hr | -0.4% |
| 2 bedroom | $1,235 | $1,112–$1,359 | $49,400 | $23.75/hr | +0.6% |
| 3 bedroom | $1,472 | $1,325–$1,619 | $58,880 | $28.31/hr | 0.0% |
| 4 bedroom | $1,653 | $1,488–$1,818 | $66,120 | $31.79/hr | +1.7% |
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 | $1,901 | $1,711–$2,091 |
| 6 bedroom Estimate | $2,149 | $1,934–$2,364 |
| 7 bedroom Estimate | $2,397 | $2,157–$2,637 |
| 8 bedroom Estimate | $2,645 | $2,381–$2,910 |
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 Otsego actually rent for?
Search any address in Otsego for a rent estimate built from nearby comps, with the HUD figure right next to it.
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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 Otsego somewhere between $1,112 and $1,359. 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.
$1,235 a month is affordable, by HUD's 30% rule, on an income of roughly $49,400 a year. Put another way, $24 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%$1,112 | Voucher pays at 100%$1,235 | Voucher pays at 110%$1,359 |
|---|---|---|---|---|
| $2,500 | $750 | $362 | $485 | $609 |
| $4,000 | $1,200 | $0 | $35 | $159 |
Rate history
The two-bedroom rate went up 1% from FY 2026 ($1,228) to FY 2027 ($1,235). Since FY 2020 it's up 41% in total, about 5.1% 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 | $692 | $696 | $873 | $1,095 | $1,404 | — |
| FY 2021 | $732 | $737 | $916 | $1,182 | $1,425 | +4.9% |
| FY 2022 | $723 | $734 | $892 | $1,151 | $1,307 | -2.6% |
| FY 2023 | $720 | $827 | $990 | $1,254 | $1,381 | +11.0% |
| FY 2024 | $719 | $879 | $1,061 | $1,304 | $1,413 | +7.2% |
| FY 2025 | $812 | $957 | $1,184 | $1,426 | $1,570 | +11.6% |
| FY 2026 | $847 | $965 | $1,228 | $1,472 | $1,626 | +3.7% |
| FY 2027In effect | $860 | $961 | $1,235 | $1,472 | $1,653 | +0.6% |
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 Otsego, that runs from $860 for a studio up to $1,653 for four bedrooms, all five rates in the table above.
Because Otsego 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, East Worcester included.
Among New York's 62 counties, Otsego ranks 38th for two-bedroom FMR. That's about 11% below the state median of $1,385 and about 16% above the national median county at $1,063. About 60,108 people live here, 42nd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,110 in 13415 (New Lisbon) and $1,550 in 12116 (Maryland), with the 32 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 |
|---|---|---|---|
| 12064 | East Worcester | $1,540 | +24.7% |
| 12116 | Maryland | $1,550 | +25.5% |
| 12155 | Schenevus | $1,220 | -1.2% |
| 12197 | Worcester | $1,540 | +24.7% |
| 13315 | Burlington Flats | $1,280 | +3.6% |
| 13320 | Cherry Valley | $1,540 | +24.7% |
| 13326 | Cooperstown | $1,410 | +14.2% |
| 13333 | East Springfield | $1,330 | +7.7% |
| 13335 | Edmeston | $1,210 | -2.0% |
| 13337 | Fly Creek | $1,410 | +14.2% |
| 13342 | Garrattsville | $1,140 | -7.7% |
| 13348 | Hartwick | $1,200 | -2.8% |
| 13415 | New Lisbon | $1,110 | -10.1% |
| 13439 | Richfield Springs | $1,110 | -10.1% |
| 13450 | Roseboom | $1,270 | +2.8% |
| 13457 | Schuyler Lake | $1,160 | -6.1% |
| 13468 | Springfield Center | $1,240 | +0.4% |
| 13482 | West Burlington | $1,270 | +2.8% |
| 13485 | West Edmeston | $1,260 | +2.0% |
| 13488 | Westford | $1,150 | -6.9% |
| 13747 | Colliersville | $1,240 | +0.4% |
| 13776 | Gilbertsville | $1,420 | +15.0% |
| 13796 | Laurens | $1,320 | +6.9% |
| 13807 | Milford | $1,110 | -10.1% |
| 13808 | Morris | $1,110 | -10.1% |
| 13810 | Mount Vision | $1,110 | -10.1% |
| 13820 | Oneonta | $1,270 | +2.8% |
| 13825 | Otego | $1,110 | -10.1% |
| 13834 | Portlandville | $1,180 | -4.5% |
| 13849 | Unadilla | $1,140 | -7.7% |
| 13859 | Wells Bridge | $1,130 | -8.5% |
| 13861 | West Oneonta | $1,230 | -0.4% |
Nearby counties
Two-bedroom FMR, with how each compares to Otsego.
Delaware County
26 mi · 44,487 people
$1,017
-18%
Chenango County
29 mi · 46,321 people
$1,014
-18%
Schoharie County
30 mi · 30,049 people
$1,711
+39%
Madison County
36 mi · 67,328 people
$1,493
+21%
Montgomery County
38 mi · 49,528 people
$1,111
-10%
Herkimer County
39 mi · 59,757 people
$1,210
-2%
Oneida County
41 mi · 229,124 people
$1,210
-2%
Fulton County
49 mi · 52,487 people
$1,051
-15%
Questions people ask
$1,235 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $860 for a studio, $961 for one bedroom, $1,472 for three and $1,653 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 Otsego actually go for?
HUD's number is one input. Search any address in Otsego for a rent estimate built from nearby comps. Free to start, no card.
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