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 | $1,010 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,440 | $198,165 | 0.73% | D |
| 3BR | $1,740 | $250,260 | 0.7% | D |
| 4BR | $1,900 | $320,581 | 0.59% | F |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 13076 (Hastings, NY, Oswego County, part of the Syracuse, NY MSA) reveals significant discrepancies between the HUD Fair Market Rent (FMR) and the actual market rents. For fiscal year 2024, HUD has set the FMR at $1480. In contrast, the Census ACS reports the average market rent in ZIP 13076 to be $642. This substantial gap means that landlords accepting Section 8 vouchers will experience positive cash flow even with the standard FMR.
To put this into perspective, consider the median home value in the area, which stands at $235,158. With an FMR of $1480, the rent-to-price ratio is approximately 0.63%, indicating that the rental income from a Section 8 tenant would be significantly higher relative to property values compared to typical market rents. This makes Section 8 properties particularly attractive for landlords looking to maximize their cash flow.
While the data does not provide the median days on market (DOM) or the percentage of price cuts for the area, these factors typically influence rent-versus-buy dynamics. However, given the disparity between FMR and market rents, such metrics are less critical in assessing the financial viability of Section 8 investments.
The strongest angle for investors in ZIP 13076 remains cash flow. Accepting Section 8 vouchers ensures a steady, government-backed income stream that exceeds current market rents, making it a reliable investment strategy in this region.
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.