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 | $900 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $186,315 | 0.68% | D |
| 3BR | $1,530 | $272,994 | 0.56% | F |
| 4BR | $1,670 | $371,391 | 0.45% | F |
| 5BR | $1,937 | $367,021 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 13037, located in Chittenango, NY, has a population of 9,607 residents, with 21.8% being renters. This indicates that the area is not heavily dominated by renters; rather, it leans more towards homeownership. The median household income in this ZIP is $83,963, which provides a baseline for understanding the economic context of potential tenants.
The typical market rent in this area stands at $819 per month, which represents approximately 11.3% of the median household income. This calculation is derived from dividing the market rent by the median income and multiplying by 100. In comparison, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,000, indicating that the actual market rent is below the FMR, suggesting a potentially favorable rental market for landlords.
Given the lower percentage of renters and the relatively high median income, landlords can expect a tenant pool that is less likely to rely heavily on Section 8 vouchers. Instead, tenants in this area will likely be those who can afford to pay market rates or slightly above, with some possibly using vouchers to supplement their rental payments. The scarcity of voucher holders means that landlords have an opportunity to attract tenants who are financially stable and can meet the demands of higher rents without assistance.
A landlord in ZIP 13037 should anticipate tenants who are capable of paying close to the market rate, if not slightly more. These tenants are likely to be employed individuals or families who can manage their housing expenses without needing extensive government subsidies. The area's demographics suggest a mix of young professionals, families, and retirees who may seek rental properties for various reasons, including flexibility and maintenance-free living.
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.