FMR is near market; voucher and private rents are aligned.
0.97
1 BR
1 BR
0.91ratio
FMR$1,560
Market$1,710
vs market-$150
FMR is near market; voucher and private rents are aligned.
0.91
2 BR
2 BR
0.94ratio
FMR$1,950
Market$2,070
vs market-$120
FMR is near market; voucher and private rents are aligned.
0.94
3 BR
3 BR
1.18ratio
FMR$2,700
Market$2,290
vs market+$410
FMR is above market; underwrite to market rent.
1.18
4 BR
4 BR
1.13ratio
FMR$2,740
Market$2,430
vs market+$310
FMR is above market; underwrite to market rent.
1.13
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
--
ZIP 12733 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 12733 (Fallsburg, NY) is $1,950 a month. That is unchanged from FY 2026. Fallsburg is in the Sullivan County, NY 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 $1,299. Among 61 ZIP codes in Sullivan County, 12733 is tied for the 4th-highest two-bedroom rent (county range $1,180–$2,160). The median county two-bedroom FMR in New York is $1,385, so ZIP 12733 is 41% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 12733
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,490
$1,510
+1.3%
$1,359–$1,661
1BR
$1,600
$1,560
−2.5%
$1,404–$1,716
2BR
$1,950
$1,950
0.0%
$1,755–$2,145
3BR
$2,710
$2,700
−0.4%
$2,430–$2,970
4BR
$2,830
$2,740
−3.2%
$2,466–$3,014
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 12733
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,510
$1,560
$1,950
$2,700
$2,740
FY 2026
$1,490
$1,600
$1,950
$2,710
$2,830
FY 2025
$1,410
$1,550
$1,830
$2,560
$2,730
FY 2024area FMR
$789
$917
$1,078
$1,506
$1,653
FY 2023area FMR
$698
$838
$1,008
$1,341
$1,526
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Sullivan County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 12733?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,299, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,169 to $1,429 a month; under the ZIP-level Small Area FMR of $1,950 it would be $1,755 to $2,145. 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 12733 in?
ZIP 12733 is in the Sullivan County, NY non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,299.
How much did fair market rent change in ZIP 12733 for FY 2027?
The two-bedroom FMR was unchanged at $1,950 in FY 2027. Since FY 2025 it has risen 6.6%.
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