FMR is below market; voucher rent may lag private rents.
0.50
1 BR
1 BR- 11964
0.52ratio
FMR$3,070
Market$5,890
vs market-$2,820
FMR is below market; voucher rent may lag private rents.
0.52
2 BR
2 BR- 11964
0.29ratio
FMR$3,610
Market$12,480
vs market-$8,870
FMR is below market; voucher rent may lag private rents.
0.29
3 BR
3 BR- 11964
0.75ratio
FMR$4,650
Market$6,210
vs market-$1,560
FMR is below market; voucher rent may lag private rents.
0.75
4 BR
4 BR- 11964
0.33ratio
FMR$4,930
Market$14,820
vs market-$9,890
FMR is below market; voucher rent may lag private rents.
0.33
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Shelter Island, NY fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Shelter Island, NY is $3,610 a month. That is down 1.9% from $3,680 in FY 2026. Shelter Island is in the Nassau-Suffolk, NY HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,689. The median county two-bedroom FMR in New York is $1,385, so Shelter Island is 161% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Shelter Island, NY
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,670
$2,630
−1.5%
$2,367–$2,893
1BR
$3,180
$3,070
−3.5%
$2,763–$3,377
2BR
$3,680
$3,610
−1.9%
$3,249–$3,971
3BR
$4,770
$4,650
−2.5%
$4,185–$5,115
4BR
$5,040
$4,930
−2.2%
$4,437–$5,423
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Shelter Island, NY
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,630
$3,070
$3,610
$4,650
$4,930
FY 2026
$2,670
$3,180
$3,680
$4,770
$5,040
FY 2025
$2,400
$2,910
$3,360
$4,350
$4,670
FY 2024
$2,130
$2,670
$3,130
$4,050
$4,390
FY 2023
$1,850
$2,300
$2,760
$3,550
$3,910
Questions about Shelter Island, NY rents
How much will Section 8 pay for a two-bedroom in Shelter Island, NY?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,689, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,420 to $2,958 a month; under the ZIP-level Small Area FMR of $3,610 it would be $3,249 to $3,971. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Shelter Island, NY in?
Shelter Island, NY is in the Nassau-Suffolk, NY HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,689.
How much did fair market rent change in Shelter Island, NY for FY 2027?
The two-bedroom FMR fell 1.9%, from $3,680 in FY 2026 to $3,610 in FY 2027. Since FY 2023 it has risen 30.8%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set