Location: Syracuse, 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 | $1,020 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,450 | $246,174 | 0.59% | F |
| 3BR | $1,760 | $323,377 | 0.54% | F |
| 4BR | $1,910 | $456,821 | 0.42% | F |
| 5BR | $2,216 | $538,268 | 0.41% | F |
U.S. Census Bureau data (2024)
ZIP code 13029, located in Brewerton, NY, falls within the Syracuse, NY Metropolitan Statistical Area (MSA). The Federal Market Rent (FMR) for 13029 in fiscal year 2024 is $1180, while the market rent is $833. This indicates a substantial difference between the subsidized rent and the actual market rate, potentially offering higher returns for landlords participating in the Section 8 program.
The median home value in ZIP 13029 is $321,275, which is slightly below the average home value of $340,200 across Onondaga County, as reported by recent data from syracuse.com. The 21.4% renter share in 13029 is relatively moderate compared to the overall composition of the Syracuse MSA, where the average renter share is not explicitly stated but typically varies.
The combination of a below-average home value and a moderate renter share suggests that ZIP 13029 is a value pocket within the Syracuse MSA. This means that it offers affordability and a reasonable number of rental units, which can be advantageous for investors focused on Section 8 properties. The higher FMR compared to the market rent implies that landlords can benefit financially from participating in the Section 8 program, as they receive payments above the typical market rate.
While the exact average renter share for the entire Syracuse MSA is not provided in the search results, the divergence in home values and the presence of a significant renter base indicate that ZIP 13029 could represent a sweet spot for Section 8 investments. The area’s lower median home value and reasonable renter share make it a promising location for those looking to maximize their investment returns through government-subsidized housing programs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.