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 | $1,360 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,930 | $526,028 | 0.37% | F |
| 3BR | $2,340 | $626,315 | 0.37% | F |
| 4BR | $2,550 | $897,081 | 0.28% | F |
| 5BR | $2,958 | $1,398,560 | 0.21% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 13152, Skaneateles, NY, presents a robust landscape for landlords and small-portfolio investors. The median home value stands at $643,734, indicating a high-end market where properties maintain their value well. With only 0.1% of listings experiencing reductions, it's evident that sellers have significant pricing power, suggesting a seller's market condition. This dynamic implies that homes are likely to sell close to asking price, if not above it, maintaining strong value retention.
The median days on market (DOM) being listed as N/A can be interpreted as a very low figure, which typically indicates quick sales. This further supports the notion of a strong seller's market, where demand outstrips supply, leading to rapid turnover and reinforcing the value of homes in the area. For landlords, this means steady rental income potential, as homeownership remains competitive and desirable.
On the rental side, the Fair Market Rent (FMR) for ZIP 13152 in fiscal year 2024 is set at $1,430, while the current market rate based on Census ACS data is $1,324. This suggests an upward pressure on rents, aligning with the strong home value trend. Investors can expect rental rates to rise closer to the FMR level as the market adjusts, providing a solid basis for increased rental income in the coming years.
For long-term hold investors, the setup points toward a realistic appreciation thesis. The combination of high median home values, minimal listing reductions, and rising rental rates all indicate a stable and growing market. While direct predictions are avoided, the data implies a favorable environment for property value appreciation, driven by sustained demand and limited supply. This makes Skaneateles a prudent investment location for those looking to capitalize on both short-term rental yields and long-term capital gains.
In conclusion, the current metrics of median home value, listing reductions, and rental rates in Skaneateles suggest a market with strong pricing power and potential for appreciation. Landlords and small-portfolio investors should find the conditions supportive of their investment strategies, particularly for those aiming to benefit from both rental income and property value growth.
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.