FMR is below market; voucher rent may lag private rents.
0.67
1 BR
1 BR- 11976
0.48ratio
FMR$2,490
Market$5,170
vs market-$2,680
FMR is below market; voucher rent may lag private rents.
0.48
2 BR
2 BR- 11976
0.24ratio
FMR$2,920
Market$12,170
vs market-$9,250
FMR is below market; voucher rent may lag private rents.
0.24
3 BR
3 BR- 11976
0.31ratio
FMR$3,760
Market$12,030
vs market-$8,270
FMR is below market; voucher rent may lag private rents.
0.31
4 BR
4 BR- 11976
0.29ratio
FMR$4,000
Market$13,650
vs market-$9,650
FMR is below market; voucher rent may lag private rents.
0.29
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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Water Mill, NY fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Water Mill, NY is $2,920 a month. That is down 3.6% from $3,030 in FY 2026. Water Mill 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 Water Mill is 111% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Water Mill, NY
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,200
$2,130
−3.2%
$1,917–$2,343
1BR
$2,630
$2,490
−5.3%
$2,241–$2,739
2BR
$3,030
$2,920
−3.6%
$2,628–$3,212
3BR
$3,940
$3,760
−4.6%
$3,384–$4,136
4BR
$4,160
$4,000
−3.8%
$3,600–$4,400
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Water Mill, NY
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,130
$2,490
$2,920
$3,760
$4,000
FY 2026
$2,200
$2,630
$3,030
$3,940
$4,160
FY 2025
$2,180
$2,740
$3,210
$4,150
$4,500
FY 2024
$2,420
$3,040
$3,560
$4,610
$5,000
FY 2023
$2,250
$2,810
$3,370
$4,330
$4,760
Questions about Water Mill, NY rents
How much will Section 8 pay for a two-bedroom in Water Mill, 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 $2,920 it would be $2,628 to $3,212. 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 Water Mill, NY in?
Water Mill, 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 Water Mill, NY for FY 2027?
The two-bedroom FMR fell 3.6%, from $3,030 in FY 2026 to $2,920 in FY 2027. Since FY 2023 it has fallen 13.4%.
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