Location: Cayuga County, 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 | $1,010 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,150 | $117,541 | 0.98% | C |
| 2BR | $1,440 | $150,264 | 0.96% | C |
| 3BR | $1,740 | $200,152 | 0.87% | C |
| 4BR | $1,890 | $234,149 | 0.81% | C |
| 5BR | $2,192 | $241,211 | 0.91% | C |
U.S. Census Bureau data (2024)
The ZIP code 13126, located in Oswego, NY, is characterized by a significant rental population, with 34.5% of residents being renters. This indicates that the area has a substantial tenant pool, which is favorable for landlords and small-portfolio investors looking to attract Section 8 tenants. The median household income in the area is $65,346, providing a benchmark for assessing the affordability of housing.
The market rent for ZIP 13126 stands at $1,360, which represents approximately 20.8% of the median household income. This percentage is relatively high, suggesting that many households may find it challenging to cover rent costs without assistance. In contrast, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,080, indicating a potential gap between market rents and what might be considered affordable by federal standards.
The disparity between the market rent ($1,360) and the FMR ($1,080) suggests a strong demand for rental subsidies, such as those provided through Section 8 vouchers. Given the higher market rent compared to the FMR, landlords can anticipate a robust interest from tenants seeking rental assistance to make housing more affordable.
A landlord in ZIP 13126 should expect a tenant profile that includes individuals and families who rely on rental assistance programs. These tenants will likely have an income level below the median, necessitating the use of vouchers to afford the average market rent. With over one-third of the population renting, there is a considerable opportunity for landlords to engage with Section 8 tenants, thereby ensuring steady occupancy and a reliable source of income.
To summarize, ZIP 13126 is a renter-heavy area with a notable demand for rental assistance, making it an attractive market for landlords willing to participate in Section 8 programs. The high proportion of rent to income underscores the importance of such subsidies for maintaining housing stability in the community.
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.