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 | $1,090 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,550 | $224,957 | 0.69% | D |
| 3BR | $1,880 | $288,153 | 0.65% | D |
| 4BR | $2,040 | $357,289 | 0.57% | F |
U.S. Census Bureau data (2024)
The ZIP code 13112 in Memphis, NY stands out within Onondaga County due to its unique characteristics. With a total population of 2,140, only 11.0% of the residents are renters, indicating a predominantly owner-occupied community. The median income here is relatively high at $96,615, which contrasts sharply with the median home value of $260,642. This suggests that homeowners in the area have a significant equity stake in their properties.
Moving onto the voucher economics, the Fair Market Rent (FMR) for ZIP 13112 in fiscal year 2024 is set at $1,180. This is notably higher than the market rent of $1,127 reported by the Census Bureau's American Community Survey (ACS). Landlords who accept Section 8 vouchers can expect to receive a slightly above-market rent, making it a potentially attractive option despite the bureaucratic challenges often associated with the program.
The data signature for ZIP 13112 reads as stable. The low percentage of renters indicates a strong homeowner base, which typically contributes to long-term stability in the housing market. Additionally, the high median income supports a robust local economy, reducing the risk of sudden economic downturns that could affect property values and rental demand. While the slight premium offered by the Section 8 program may encourage some landlords to participate, the overall market conditions suggest that this ZIP code is not undergoing rapid changes that would characterize it as transitional.
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.