FMR is below market; voucher rent may lag private rents.
0.86
1 BR
1 BR
0.91ratio
FMR$1,330
Market$1,460
vs market-$130
FMR is near market; voucher and private rents are aligned.
0.91
2 BR
2 BR
1.19ratio
FMR$1,740
Market$1,460
vs market+$280
FMR is above market; underwrite to market rent.
1.19
3 BR
3 BR
1.48ratio
FMR$2,270
Market$1,530
vs market+$740
FMR is above market; underwrite to market rent.
1.48
4 BR
4 BR
1.08ratio
FMR$2,310
Market$2,140
vs market+$170
FMR is near market; voucher and private rents are aligned.
1.08
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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ZIP 03604 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 03604 (Drewsville, NH) is $1,740 a month. That is down 9.8% from $1,930 in FY 2026. Drewsville is in the Cheshire County, NH non-metropolitan 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 county-wide two-bedroom FMR of $1,734. Among 28 ZIP codes in Cheshire County, 03604 is tied for the 12th-highest two-bedroom rent (county range $1,740–$2,260).
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 03604
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,330
$1,200
−9.8%
$1,080–$1,320
1BR
$1,470
$1,330
−9.5%
$1,197–$1,463
2BR
$1,930
$1,740
−9.8%
$1,566–$1,914
3BR
$2,520
$2,270
−9.9%
$2,043–$2,497
4BR
$2,560
$2,310
−9.8%
$2,079–$2,541
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 03604
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,200
$1,330
$1,740
$2,270
$2,310
FY 2026
$1,330
$1,470
$1,930
$2,520
$2,560
FY 2025
$1,060
$1,180
$1,550
$2,020
$2,060
FY 2024area FMR
$945
$1,061
$1,394
$1,833
$1,888
FY 2023area FMR
$946
$1,011
$1,331
$1,860
$1,954
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Cheshire County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 03604?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,734, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,561 to $1,907 a month; under the ZIP-level Small Area FMR of $1,740 it would be $1,566 to $1,914. 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 ZIP 03604 in?
ZIP 03604 is in the Cheshire County, NH non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,734.
How much did fair market rent change in ZIP 03604 for FY 2027?
The two-bedroom FMR fell 9.8%, from $1,930 in FY 2026 to $1,740 in FY 2027. Since FY 2025 it has risen 12.3%.
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