FMR is near market; voucher and private rents are aligned.
1.02
1 BR
1 BR
1.07ratio
FMR$1,380
Market$1,290
vs market+$90
FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR
1.05ratio
FMR$1,800
Market$1,710
vs market+$90
FMR is near market; voucher and private rents are aligned.
1.05
3 BR
3 BR
1.29ratio
FMR$2,470
Market$1,920
vs market+$550
FMR is above market; underwrite to market rent.
1.29
4 BR
4 BR
1.45ratio
FMR$2,940
Market$2,030
vs market+$910
FMR is above market; underwrite to market rent.
1.45
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 13603 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 13603 (Watertown, NY) is $1,800 a month. That is up 3.4% from $1,740 in FY 2026. Watertown is in the Watertown-Fort Drum, NY MSA. 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 $1,453. Among 46 ZIP codes in Jefferson County, 13603 has the highest two-bedroom rent (county range $1,270–$1,800). The median county two-bedroom FMR in New York is $1,385, so ZIP 13603 is 30% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 13603
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,200
$1,250
+4.2%
$1,125–$1,375
1BR
$1,330
$1,380
+3.8%
$1,242–$1,518
2BR
$1,740
$1,800
+3.4%
$1,620–$1,980
3BR
$2,360
$2,470
+4.7%
$2,223–$2,717
4BR
$2,900
$2,940
+1.4%
$2,646–$3,234
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 13603
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,250
$1,380
$1,800
$2,470
$2,940
FY 2026
$1,200
$1,330
$1,740
$2,360
$2,900
FY 2025
$1,120
$1,230
$1,610
$2,190
$2,680
FY 2024
$1,190
$1,330
$1,750
$2,370
$2,870
FY 2023
$1,070
$1,220
$1,600
$2,160
$2,560
Two-bedroom rent in nearby Jefferson County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 13603?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,453, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,308 to $1,598 a month; under the ZIP-level Small Area FMR of $1,800 it would be $1,620 to $1,980. 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 13603 in?
ZIP 13603 is in the Watertown-Fort Drum, NY MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,453.
How much did fair market rent change in ZIP 13603 for FY 2027?
The two-bedroom FMR rose 3.4%, from $1,740 in FY 2026 to $1,800 in FY 2027. Since FY 2023 it has risen 12.5%.
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