FY2026 Fair Market Rents — Ithaca, NY MSA
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$1,263
1BR
$1,466
2BR
$1,753
3BR
$2,102
4BR
$2,624
Hours/week at min wage
82 hrs
to afford the 2BR FMR @ $16.50/hr (NY)
National rank
#113
of 661 U.S. metros (top 18% most expensive)
YoY change (2BR)
+3%
+$51 vs FY2025 · 5-yr +38.1%
Voucher payment standard
$1,578–$1,928
PHAs set HCV payment at 90–110% of the 2BR FMR
Ithaca, NY MSA
Metropolitan area · NY · View full history · Income limits · LIHTC rents
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $1,263 | $15,156 |
| 1-Bedroom | $1,466 | $17,592 |
| 2-Bedroom | $1,753 | $21,036 |
| 3-Bedroom | $2,102 | $25,224 |
| 4-Bedroom | $2,624 | $31,488 |
Recent 2-Bedroom FMR Trend
FY2020 $1,172 → FY2026 $1,753
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $1,263 | $1,466 | $1,753 | $2,102 | $2,624 |
| FY2025 | $1,320 | $1,489 | $1,702 | $2,051 | $2,353 |
| FY2024 | $1,311 | $1,434 | $1,664 | $2,056 | $2,229 |
| FY2023 | $1,187 | $1,276 | $1,487 | $1,890 | $1,998 |
| FY2022 | $1,053 | $1,127 | $1,365 | $1,743 | $1,851 |
| FY2021 | $980 | $1,048 | $1,269 | $1,619 | $1,812 |
| FY2020 | $919 | $969 | $1,172 | $1,496 | $1,748 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $118,000
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $24,800 | $28,350 | $31,900 | $35,400 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $41,300 | $47,200 | $53,100 | $59,000 | $63,750 | $68,450 |
| 80% AMI (Low) | $66,100 | $75,550 | $85,000 | $94,400 | $102,000 | $109,550 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$21,036/yr
FMR as % of Area Median Income
17.8% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$70,120/yr
$5,843/mo gross income
FY2026 LIHTC Maximum Rents
Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →
| AMI Band | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| 50% AMI Maximum | $1,032 | $1,180 | $1,327 | $1,593 | $1,711 |
| 60% AMI Maximum | $1,239 | $1,416 | $1,593 | $1,911 | $2,053 |
FY2026 HOME Program Rent Limits
Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $1,263 | $1,466 | $1,753 | $1,917 | $1,917 |
| Low HOME Rent | $1,032 | $1,180 | $1,327 | $1,475 | $1,593 |
Compare Ithaca, NY MSA With Other NY Metros
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