Falsettoland has won several awards, including Best Off Broadway Musical at the Outer Critics Circle Awards. It also received Outstanding Musical awards at The Lortels for Playwrights Horizons, Maurice Rosenbield, Lois Rosenfield, and Steven Suskin. Additionally, it won Outstanding Lyrics at the Drama Desk Awards for William Finn, as well as Outstanding Music at the Drama Desk Awards, also for William Finn.