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 | $1,280 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,820 | $253,906 | 0.72% | D |
| 3BR | $2,200 | $289,834 | 0.76% | D |
| 4BR | $2,390 | $385,156 | 0.62% | D |
| 5BR | $2,772 | $468,086 | 0.59% | F |
U.S. Census Bureau data (2024)
ZIP 13031, located in Camillus, NY, within the Syracuse, NY MSA, presents itself as an ideal cash-flow anchor for a Section 8 portfolio strategy. This designation is supported by the favorable financial metrics that indicate stability and predictability.
The Federal Market Rent (FMR) for ZIP 13031 in fiscal year 2024 is set at $1260. In contrast, the market rent for the area stands at $1783. This significant spread of $523 per unit between the FMR and the market rent highlights the potential for consistent cash flow when properties are leased through Section 8 vouchers. Landlords can expect to receive a steady income stream that is above the FMR but below the market rate, thus mitigating risks associated with rental vacancies and ensuring reliable returns.
The median home value in ZIP 13031 is $299,602. Given the relatively stable housing market and the fact that the FMR is significantly lower than the median market rent, there is a strong likelihood that the property values will remain stable. This stability further supports the use of ZIP 13031 as a cash-flow anchor, as it minimizes the risk of property value depreciation.
ZIP 13031 does not present itself as an appreciation play due to the lack of data on price-cut shares and days on market (DOM). These metrics would typically indicate whether properties in the area are appreciating in value over time. Without such information, it's difficult to argue that ZIP 13031 offers significant capital appreciation opportunities.
The ZIP code also serves as a diversifier within a Section 8 portfolio. With a 23.4% renter share and a median income of $88,224, there is a substantial population that could benefit from Section 8 vouchers while still being part of a middle-income community. This mix ensures that the portfolio is not overly reliant on a single demographic, providing a buffer against economic downturns and enhancing overall portfolio resilience.
In conclusion, ZIP 13031 is best suited as a cash-flow anchor in a Section 8 portfolio strategy. The robust difference between the FMR and market rent, combined with stable property values, makes it a reliable choice for landlords and small-portfolio investors seeking predictable returns.
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.