Location: Cayuga County, NY | Metro: Cayuga County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
22.6% of residents in ZIP code 13113 are renters, indicating a notable demand for rental properties. In this area, the Fair Market Rent (FMR) for Section 8 is set at $1,270 per month, which is the benchmark for determining eligibility for housing assistance. The median income of $35,313 provides insight into the economic profile of the population, suggesting that many households may rely on Section 8 vouchers to afford housing. While specific market rent and median home value data are currently unavailable, the reliance on Section 8 vouchers is evident given the percentage of renters and the established FMR. Landlords and small-portfolio investors should consider the stable rental income potential from properties rented through Section 8 programs. The lack of data on days on market (DOM) and price-cut share does not detract from the fact that the Section 8 program offers a reliable source of tenants who can consistently pay their rent. With the FMR at $1,270, landlords can ensure they receive a fixed monthly payment, reducing financial risk compared to the volatile nature of the private rental market. This ZIP code's characteristics make it a suitable location for those interested in leveraging the Section 8 program to secure steady rental income.
Section 8 Verdict: A solid investment option with a 22.6% renter share and a defined FMR of $1,270.
Data Sources: FMR data from HUD (2027). 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.