Section 8 Fair Market Rent (FMR) for ZIP 13122 - 2027

Location: Syracuse, NY | Metro: Syracuse, NY MSA

Investment Score for ZIP 13122

N/A

Monthly Rent (2BR)

$1,490

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,050
1 Bedroom	$1,190
2 Bedrooms	$1,490
3 Bedrooms	$1,800
4 Bedrooms	$1,960
5 Bedrooms	$2,274
6 Bedrooms	$2,547
7 Bedrooms	$2,751
8 Bedrooms	$2,889

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,800	$282,223	0.64%	D
4BR	$1,960	$312,298	0.63%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,257

Median Household Income

$81,500

Housing Units

658

Renter Percentage

11.1%

Occupancy Rate

90.6%

Renter Occupied

The Section 8 thesis in ZIP 13122, New Woodstock, NY, hinges on the gap between the Fair Market Rent (FMR) of $1070 for FY 2024 and the current market rent, which is not available. However, based on historical trends and demographic data, we can infer the implications for landlords and small-portfolio investors.

The median home value in ZIP 13122 is $254,752, and the median income is $81,500. With 11.1% of residents being renters, the area has a relatively low rental demand compared to ownership. Given the FMR figure of $1070, landlords must be aware that voucher tenants will only pay up to this amount, regardless of the actual market conditions.

If the market rent were higher than the FMR, landlords would face a significant cost of housing voucher tenants below open-market rates. This scenario could result in reduced cash flows and lower returns on investment. Conversely, if the market rent is lower than the FMR, then voucher tenants could provide a stable and potentially higher yield compared to other local renters.

Landlords should consider the following:

Voucher Tenants as Yield Play: When the FMR exceeds the market rent, accepting voucher tenants can ensure a steady income stream at or near the FMR rate. This can be particularly beneficial in areas where finding consistent paying tenants is challenging.
Cost Implications: If the market rent is higher than the FMR, landlords may need to subsidize the difference, which can impact profitability. This situation requires careful consideration of long-term investment goals versus short-term financial gains.

To make informed decisions, landlords and investors should continuously monitor market rents and compare them against the FMR. This will help in understanding the true cost-benefit of accepting voucher tenants and maximizing property yields.

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.