Section 8 Fair Market Rent (FMR) for ZIP 13124 - 2027

Location: Chenango County, NY | Metro: Chenango County, NY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$840
1 Bedroom	$870
2 Bedrooms	$1,050
3 Bedrooms	$1,400
4 Bedrooms	$1,530
5 Bedrooms	$1,775
6 Bedrooms	$1,988
7 Bedrooms	$2,147
8 Bedrooms	$2,254

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$90,000

Housing Units

Renter Percentage

7.5%

Occupancy Rate

59.7%

Renter Occupied

ZIP code 13124, located in the heart of Central New York, offers a unique blend of suburban charm and accessibility to urban amenities, making it an attractive location for both residents and investors. The area is characterized by its modest size and relatively stable housing market.

The Fair Market Rent (FMR) for ZIP 13124 is set at $1,010 for the fiscal year 2026, indicating the average rental price for a two-bedroom apartment as determined by HUD.
While specific data on market rents is currently unavailable, the FMR provides a reliable benchmark for understanding the typical rental costs in the area.
The median home value is also not available, but given the area's characteristics, it is likely to be lower compared to larger metropolitan areas, which can be advantageous for first-time buyers and investors alike.
Renters make up 7.5% of the population in ZIP 13124, suggesting that the majority of the residents prefer homeownership over renting.
The Days on Market (DOM) figure is not available, which could indicate a steady flow of property transactions without significant delays.
The median household income in the area stands at $90,000, reflecting a middle-class community with a solid financial foundation to support rental payments.

Investors considering ZIP 13124 should focus on the stability provided by the HUD-determined FMR of $1,010, which sets a clear expectation for rental income. Despite the lack of specific market rent data, the area's income levels suggest that there is a reasonable demand for affordable housing. With a low renter share, the competition for rental properties may be less intense, potentially allowing for higher occupancy rates. The absence of DOM data implies efficient property turnover, minimizing holding costs and vacancy periods. Overall, ZIP 13124 presents a moderate investment opportunity with predictable returns, suitable for risk-averse investors looking for long-term stability.

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.