Section 8 Fair Market Rent (FMR) for ZIP 13066 - 2027

Location: Syracuse, NY | Metro: Syracuse, NY MSA

Investment Score for ZIP 13066

Monthly Rent (2BR)

$1,630

Median Price (2BR)

$306,475

1% Rule

0.53%

Annual Yield

6.38%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,150
1 Bedroom	$1,310
2 Bedrooms	$1,630
3 Bedrooms	$1,970
4 Bedrooms	$2,140
5 Bedrooms	$2,482
6 Bedrooms	$2,780
7 Bedrooms	$3,002
8 Bedrooms	$3,152

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,630	$306,475	0.53%	F
3BR	$1,970	$354,480	0.56%	F
4BR	$2,140	$495,735	0.43%	F
5BR	$2,482	$655,891	0.38%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

12,504

Median Household Income

$122,088

Housing Units

5,964

Renter Percentage

18.5%

Occupancy Rate

90.0%

Renter Occupied

992

Fayetteville, NY, located in ZIP code 13066, is a suburban area known for its quiet living conditions and proximity to larger urban centers, making it an attractive location for both homeowners and renters. The real estate market here reflects a blend of affordability and desirability, offering opportunities for investors looking to capitalize on steady rental demand and property values.

The Fair Market Rent (FMR) for ZIP 13066 is set at $1340 for fiscal year 2024, indicating the government's benchmark for rental pricing in the area.
The actual market rent, according to the latest Census American Community Survey (ACS), is slightly lower at $1,222, suggesting that the local rental market is competitive and slightly below the FMR.
The median home value in Fayetteville is $395,986, which provides a solid base for property appreciation and equity growth over time.
Renters make up 18.5% of the population, showing a moderate demand for rental properties but also a strong preference for homeownership among residents.
The median household income in the area is $122,088, which is above the national average and suggests a stable economic environment conducive to timely rent payments.

Investors in Fayetteville should note that the area offers a balanced opportunity between rental income and potential capital gains. While the actual market rent is currently below the FMR, the high median income supports the likelihood of sustained rent levels. The moderate renter share indicates a niche market where rental properties can still be profitable, especially considering the relatively high median home value. Overall, Fayetteville presents a reliable investment option for those seeking a mix of rental income and property appreciation.

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.