Location: Syracuse, NY | Metro: Syracuse, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
1040 FMR (zip FY 2024): The Fair Market Rent for ZIP 13121 is set at $1040, providing a baseline for rental pricing in the area.
$30,000: A 2.75-acre lot in the neighboring area is listed for sale, indicating the potential for land investment opportunities in ZIP 13121.
$400,000: A 3-bedroom, 1-bathroom house with 1,400 square feet is available for purchase in ZIP 13121, offering insight into the current market values for modest-sized homes.
$199,000: Another property, a 2-bedroom, 2-bathroom house with 960 square feet, is listed for sale, highlighting the range of prices for smaller homes in the region.
$429,500: A 4-bedroom, 2-bathroom house is priced higher, reflecting the value of larger properties in ZIP 13121.
$110,000: A 30.22-acre lot has been listed for sale, showing that there are significant land investment opportunities in the vicinity.
With the Fair Market Rent established at $1040, landlords and small-portfolio investors can expect a steady demand for affordable housing options in ZIP 13121. The variety of properties listed, ranging from modest-sized homes to large lots, provides ample opportunity for diversifying investment portfolios. Prices reflect a mix of affordability and luxury, catering to different segments of the market. Given the specific FMR and the diverse housing stock, ZIP 13121 presents a favorable environment for Section 8 investments.
Data Sources: FMR data from HUD (2027).
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.