Section 8 Fair Market Rent (FMR) for ZIP 13137 - 2027

FY 2027 Fair Market Rent Rates

1150 FMR (Fair Market Rent) for ZIP 13137 (Unknown, NY) in fiscal year 2024 indicates the maximum amount that a low-income household should pay for rent and utilities. However, the median home value and median income remain unspecified, suggesting limited data availability for comprehensive analysis.

In April 2024, the housing market in ZIP 13137 showed a median sale price of $202K, marking a significant decline of 20.6% from the previous year. Despite this downturn, the Fair Market Rent remains a stable benchmark for rental pricing in the area.

The unspecified market rent and median income figures indicate a lack of precise data for evaluating the overall economic health of the region. Without these key indicators, it is challenging to determine the affordability of housing for local residents.

The unspecified renter share suggests that the percentage of residents who choose to rent rather than own their homes is not well documented. This could impact investment decisions, as a higher renter share typically signals a stronger demand for rental properties.

With the Days on Market (DOM) and price-cut share also remaining unspecified, there is insufficient information to gauge the speed at which properties are selling and the frequency of price reductions in the area.

Verdict: Given the limited data, especially regarding market rent and median income, landlords and small-portfolio investors in ZIP 13137 should carefully consider the stability of the Fair Market Rent ($1150) and the recent median sale price ($202K) when making investment decisions.

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.