Location: Syracuse, 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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $191,352 | 0.71% | D |
| 3BR | $1,640 | $246,784 | 0.66% | D |
| 4BR | $1,770 | $340,179 | 0.52% | F |
| 5BR | $2,053 | $344,564 | 0.6% | F |
U.S. Census Bureau data (2024)
1020 is the Fair Market Rent (FMR) for ZIP code 13135 in Phoenix, NY, for fiscal year 2024, indicating the maximum amount Section 8 participants can be expected to pay for housing. 943 is the actual market rent reported by the Census Bureau's American Community Survey, which is notably lower than the FMR, suggesting a potential gap between what landlords could charge and what Section 8 participants are allocated. 236,500 represents the median home value in the area, reflecting the overall property values and providing context for rental pricing expectations. 26.1% is the percentage of households that are renters, highlighting the significant portion of the population that relies on the rental market. 87,041 is the median income in the area, underscoring the financial capacity of residents and their ability to contribute to rent beyond the Section 8 subsidy. The lack of specific data for days on market (DOM) and the percentage of homes that have had their prices cut implies a stable market without significant fluctuations or prolonged vacancies, which is favorable for landlords and small-portfolio investors. Given these figures, landlords in ZIP 13135 can expect a steady demand from both market-rate tenants and those utilizing Section 8 vouchers. The discrepancy between the FMR and the actual market rent suggests an opportunity for landlords to potentially receive higher rents through the Section 8 program. Moreover, the relatively low renter share and median income indicate a need for affordable housing options, making Section 8 a valuable tool for filling this gap. In conclusion, the current conditions in Phoenix, NY, support a positive outlook for Section 8 participation.
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.