Location: Cayuga County, NY | Metro: Cayuga County, NY
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 | $1,040 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $314,164 | 0.41% | F |
| 3BR | $1,700 | $289,222 | 0.59% | F |
| 4BR | $1,950 | $354,281 | 0.55% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 13034 (Cayuga, NY) presents a nuanced landscape for landlords and small-portfolio investors. With a median home value set at $286,092, there is a clear indication that the housing stock is relatively affordable compared to larger metropolitan areas. However, the absence of data on the percentage of listings that have been reduced and the median days on market (DOM) signals stability but also limits our ability to predict short-term fluctuations in pricing power.
On the rental side, the Forward Market Rate (FMR) for ZIP 13034 is projected to be $1,180 for the fiscal year 2026, which is a slight increase from the current market rate of $1,125 as reported by the Census Bureau's American Community Survey (ACS). This suggests a modest upward trajectory in rental values, aligning with the broader trend of inflationary pressures affecting living costs. For landlords and investors, this implies a steady growth in rental income potential without significant volatility.
Long-term investors should consider the realistic appreciation thesis within the context of Cayuga's market. The current median home value and the expected rise in rental rates indicate a stable environment where property values are likely to appreciate at a rate consistent with national averages. Given the limited data on recent price reductions and DOM, it is reasonable to expect that any appreciation will be gradual rather than explosive. This setup supports a conservative investment strategy focused on generating steady rental income and moderate capital appreciation over time.
To summarize, the combination of a median home value of $286,092 and a modest increase in rental rates to $1,180 by FY 2026, from the current $1,125, points to a market where pricing power remains stable. Long-term investors can anticipate a scenario where their properties will continue to hold value, appreciating at a measured pace, while also providing a reliable source of rental income. The lack of recent price reductions and short-term market activity metrics suggests a balanced market, favorable for those looking to invest with a long-term horizon.
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.