Location: Cayuga County, NY | Metro: Cayuga County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The ZIP code 13024 is located in Auburn, New York. The area has a population of approximately 1,230 residents, though specific percentages for renters and median income figures are not available. The median home value also remains unspecified.
Regarding rent economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,140. This figure contrasts with the lack of available market rent data for the specific ZIP code. However, it provides a benchmark for assessing rental properties in the area.
The place is suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the FMR offers a reliable guideline for setting rents and ensuring compliance with Section 8 requirements. On the other hand, hands-on value-add buyers can leverage the FMR to identify opportunities where they can improve property conditions and potentially charge slightly above the FMR without alienating tenants.
Data Sources: FMR data from HUD (2027). 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.