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 | $900 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $142,288 | 0.89% | C |
| 3BR | $1,530 | $190,787 | 0.8% | C |
| 4BR | $1,670 | $208,021 | 0.8% | C |
U.S. Census Bureau data (2024)
The ZIP code 13144, located in Richland, NY, is primarily a homeowner-dominated area with only 10.8% of its population being renters. This makes it less likely to have a deep voucher demand compared to areas with higher percentages of renters. With a total population of 1,219, the number of potential Section 8 tenants is relatively limited, given the low percentage of renters.
The median household income in ZIP 13144 is $64,073. The current market rent stands at $773 per month. This means that the typical rent consumes approximately 14.5% of the median monthly income, calculated by dividing the annual median income by 12 and then by the market rent. This figure is derived from the provided data and represents the actual financial burden of rent on local incomes.
Comparing the market rent of $773 to the Fair Market Rent (FMR) of $1,000 for FY 2024, it's evident that the actual rents are below the FMR threshold. This indicates that landlords in ZIP 13144 can potentially offer competitive rents while still qualifying for Section 8 vouchers, which cover up to the FMR amount.
A landlord in this ZIP code should expect tenants who are likely to be low-income individuals or families, as Section 8 vouchers are designed for those whose income is at or below 50% of the area median income. Given the homeowner-dominated nature of the area, these tenants might also include first-time renters or individuals who have recently moved into the area and qualify for assistance due to their lower income status relative to the median.
To summarize, ZIP 13144 is not a renter-heavy area but offers opportunities for landlords who can provide affordable housing options. The market rent is significantly lower than the FMR, making it feasible for landlords to participate in the Section 8 program without facing significant financial constraints.
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.