FMR is near market; voucher and private rents are aligned.
0.99
1 BR
1 BR- 02472
0.89ratio
FMR$2,800
Market$3,130
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.89
2 BR
2 BR- 02472
0.93ratio
FMR$3,350
Market$3,590
vs market-$240
FMR is near market; voucher and private rents are aligned.
0.93
3 BR
3 BR- 02472
1.12ratio
FMR$3,990
Market$3,560
vs market+$430
FMR is above market; underwrite to market rent.
1.12
4 BR
4 BR- 02472
1.05ratio
FMR$4,400
Market$4,180
vs market+$220
FMR is near market; voucher and private rents are aligned.
1.05
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
--
Watertown, MA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Watertown, MA is $3,350 a month. That is up 8.2% from $3,095 in FY 2026. Watertown is in the Boston-Cambridge-Quincy, MA-NH 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 $3,008. The median county two-bedroom FMR in Massachusetts is $2,222, so Watertown is 51% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Watertown, MA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,480
$2,720
+9.7%
$2,448–$2,992
1BR
$2,605
$2,800
+7.5%
$2,520–$3,080
2BR
$3,095
$3,350
+8.2%
$3,015–$3,685
3BR
$3,710
$3,990
+7.5%
$3,591–$4,389
4BR
$4,100
$4,400
+7.3%
$3,960–$4,840
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Watertown, MA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,720
$2,800
$3,350
$3,990
$4,400
FY 2026
$2,480
$2,605
$3,095
$3,710
$4,100
FY 2025
$2,350
$2,485
$2,945
$3,550
$3,905
FY 2024
$2,310
$2,480
$2,950
$3,565
$3,930
FY 2023
$2,145
$2,335
$2,795
$3,400
$3,755
Questions about Watertown, MA rents
How much will Section 8 pay for a two-bedroom in Watertown, MA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $3,008, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,707 to $3,309 a month; under the ZIP-level Small Area FMR of $3,350 it would be $3,015 to $3,685. 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 Watertown, MA in?
Watertown, MA is in the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $3,008.
How much did fair market rent change in Watertown, MA for FY 2027?
The two-bedroom FMR rose 8.2%, from $3,095 in FY 2026 to $3,350 in FY 2027. Since FY 2023 it has risen 19.9%.
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