Location: Cayuga County, NY | Metro: Syracuse, NY MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,020 | $151,209 | 0.67% | D |
| 2BR | $1,260 | $187,499 | 0.67% | D |
| 3BR | $1,530 | $228,499 | 0.67% | D |
| 4BR | $1,680 | $261,338 | 0.64% | D |
| 5BR | $1,949 | $313,031 | 0.62% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 13021, Auburn, NY, in fiscal year 2024 is set at $1,030. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It is the maximum amount that the government will pay towards a tenant's rent, not the actual rent you can charge.
In comparison, the local Zillow Rent Index (ZORI) for the same area is $1,082. This indicates that the market rent is slightly higher than the FMR, meaning you might need to cover the difference between the government payment and the market rate. However, the gap is relatively small, suggesting that the financial impact on you would be minimal.
Auburn has a strong rental market, with 37.8% of residents being renters. This high percentage suggests a robust demand for rental properties, making it a good location for your first Section 8 rental. The median household income in the area is around $214,972, which is significantly higher than the average income of those who typically qualify for Section 8 assistance. This income disparity supports the idea that there are many potential tenants who would benefit from the voucher program.
Before you decide to participate, ensure that your property meets the required standards for housing quality. This includes passing a thorough inspection to confirm that it is safe, decent, and sanitary. The inspection process is designed to protect both tenants and landlords, so it is crucial to verify compliance to avoid any issues down the line.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.