2026 NYC Fair Market Rent Rates: What Voucher Holders and Landlords Need to Know

HUD publishes Fair Market Rent rates every year, and these numbers determine how much voucher programs will pay for apartments in New York City. If you have a housing voucher or you're a landlord considering whether to accept one, these are the numbers that matter.

This page now shows HUD's FY 2026 rates for NYC, with the FY 2025 rates (which were revised in April 2025 after the city submitted updated local rent survey data) alongside for comparison.

2026 Fair Market Rent by Bedroom Size

These rates apply to the New York, NY HUD Metro FMR Area, which covers all five boroughs.

FMR Went Up, but NYC Voucher Maximums Went Down

This is the part that confuses people in 2026. FMR is HUD's number. The amount a voucher will actually pay is the payment standard, which the housing agency sets as a percentage of FMR.

In 2025, NYC payment standards were about 110% of FMR: $2,762 for a 1-bedroom and $3,058 for a 2-bedroom. The 2026 schedule, effective January 1, 2026, is about 103% of the new, higher FMR: $2,734 for a 1-bedroom and $2,997 for a 2-bedroom. So FMR rose about 5% while the maximum rent a voucher covers slipped by 1% to 2%.

The current maximums by program are in our guides to Section 8 payment standards, CityFHEPS payment standards, and HASA rent levels.

What Fair Market Rent Actually Means

FMR is HUD's estimate of what a modest rental unit costs in a given area. It's set at the 40th percentile of rents, meaning 40% of units in the area rent for less than the FMR and 60% rent for more.

A few things worth understanding:

FMR is not a hard cap on what you can rent. Public Housing Authorities can set their payment standards anywhere between 90% and 110% of FMR. Some PHAs in high-cost areas (like parts of NYC) can go even higher with HUD approval.

Your voucher size matters. A family with a 2-bedroom voucher can rent a 1-bedroom or 3-bedroom apartment if they want, but the payment standard will still be based on their voucher size (2-bedroom), not the actual unit.

Utilities factor in. FMR is supposed to include utilities. If the tenant pays utilities separately, the PHA subtracts a utility allowance from the payment standard, which reduces the maximum rent the landlord can charge.

What This Means If You Have a Voucher

The roughly 5% increase in 2026 FMRs did not raise NYC voucher maximums, for the reason above. If you're searching for housing, go by the payment standard on your voucher or shopping letter, not the FMR.

In practice, finding apartments at or below FMR in NYC is hard. The rates haven't kept pace with actual market rents in most neighborhoods, which is part of why voucher holders struggle to find housing.

That said, some landlords do rent at FMR levels, particularly in the outer boroughs. The key is finding them. You can browse voucher-friendly listings on VoucherMatch or use our Rent Analyzer tool to check FMR rates for specific ZIP codes.

What This Means If You're a Landlord

If you already rent to voucher tenants and your current rent is below the payment standard, you may be able to request a rent increase. The process varies by PHA, but generally involves submitting a request with documentation of comparable rents in the area.

For example, if you have a 2-bedroom unit currently rented at $2,600/month and the 2026 payment standard is $2,997, you could potentially request an increase. The PHA isn't obligated to approve it, but if your rent is below the payment standard and comparable to other units in the area, the request has a reasonable chance.

If you're thinking about accepting vouchers for the first time, these numbers tell you whether your rents are in the right range. A 1-bedroom at $2,400/month falls comfortably within the $2,734 payment standard. A 1-bedroom at $3,200/month probably won't work unless the tenant can cover the difference out of pocket (which most can't).

FMR Varies by ZIP Code

NYC actually uses Small Area Fair Market Rents (SAFMRs) for many programs, which means the payment standard varies by ZIP code rather than being one flat rate for the whole city. Areas with higher market rents get higher payment standards.

This matters because a 2-bedroom in Williamsburg might have a different payment standard than a 2-bedroom in East New York, even though they're both in Brooklyn.

You can check the exact FMR for any ZIP code using our Rent Analyzer.

When These Rates Change

HUD publishes new FMR rates every fiscal year, typically in late summer with an October 1 effective date. The FY 2025 rates were delayed because NYC requested a reevaluation, which is why they didn't take effect until April 2025.

FY 2027 rates are due to take effect October 1, 2026. Local payment standards usually follow months later (NYCHA's 2026 schedule took effect January 1, 2026). We'll update this page when the new rates come out.

The Bottom Line

FMR rose about 5% for 2026, but NYC payment standards are a smaller percentage of it than last year, so the rent a voucher covers is slightly lower than in 2025.

If you're a voucher holder, the payment standard is your baseline for what you can afford. If you're a landlord with rents below the payment standard, you might have room to request an increase. If you're a landlord above it, you'll need to decide whether to lower your rent or wait for a tenant who can cover the gap.

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Data sources: FY 2026 figures from the HUD User Fair Market Rents dataset (New York, NY HUD Metro FMR Area), retrieved September 18, 2026. FY 2025 figures from HUD FY 2025 Fair Market Rents, revised and effective April 28, 2025.