Location: Cortland County, 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 | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $277,146 | 0.45% | F |
| 3BR | $1,530 | $280,751 | 0.54% | F |
| 4BR | $1,810 | $233,805 | 0.77% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 13052, De Ruyter, NY, stands at $76,750. Considering the market rate for rent, which is $663 according to Census ACS data, a household in this area could theoretically afford the current rental costs. However, the situation becomes more complex when comparing these figures to the federal payment standard for housing vouchers, known as Fair Market Rent (FMR), which is set at $1,060 for zip code 13052 in fiscal year 2024.
This significant gap between the market rate and the voucher payment standard highlights a challenge for both tenants and landlords. For renters earning the median income, paying $663 monthly would consume a reasonable portion of their budget, but it is still within reach. On the other hand, the FMR of $1,060 is notably higher than the market rate, indicating that landlords accepting Section 8 vouchers could potentially receive higher rent payments compared to the current market conditions.
With only 17.2% of the 1,759 residents being renters, competition among landlords is relatively low. This means that landlords have a smaller pool of potential tenants to choose from, making the decision to accept Section 8 vouchers particularly impactful. Landlords who do accept vouchers could attract a larger share of the rental market, especially if they position themselves to benefit from the higher FMR rates.
The takeaway for landlords considering their strategy is clear: accepting Section 8 vouchers can be a financially advantageous move given the disparity between the market rate and the FMR. By doing so, landlords can tap into a federal subsidy that ensures a steady, higher income stream compared to the local market rate, while also serving a community where a significant portion of renters might struggle to find affordable housing without such assistance.
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.