Location: Cayuga 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 | $1,670 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $164,514 | 0.77% | D |
| 3BR | $1,530 | $192,819 | 0.79% | D |
U.S. Census Bureau data (2024)
The real estate market in Martville, NY (ZIP 13111) is currently anchored by a median home value of $176,860. This figure provides a foundational metric for assessing both purchase and rental dynamics in the area. The percentage of listings that have been reduced and the median days on market (DOM) are currently not available, which suggests a stable market where neither sellers nor buyers are under significant pressure to adjust prices. This stability implies that landlords and small-portfolio investors can maintain their pricing strategies without fear of rapid depreciation or inflated expectations.
On the rental side, the Fair Market Rent (FMR) for ZIP 13111 as of fiscal year 2024 is set at $1060, whereas the current market average, based on Census ACS data, stands at $967. This indicates a potential upward trend in rental values, aligning with the FMR benchmark. Landlords should be aware of this gap and consider adjusting their rents accordingly to reflect fair market value while remaining competitive.
For long-term investors, the setup in Martville signals a moderate appreciation thesis. Given the current median home value and the observed rental dynamics, there is a reasonable expectation for property values to inch closer to the FMR level over the next 12 to 24 months. However, it's important to note that appreciation will likely be gradual rather than explosive, considering the absence of volatile DOM and listing reduction percentages. Investors should focus on steady growth and consider the rental income as a critical component of their overall investment strategy.
In summary, the combination of a stable median home value and the positive rental price differential suggests a balanced market with opportunities for both homeownership and rental investments. Landlords and investors should monitor local economic indicators and housing demand closely to make informed decisions about pricing and investment timing.
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.