Location: Cortland 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 | $1,120 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,580 | $252,942 | 0.62% | D |
| 3BR | $1,920 | $322,112 | 0.6% | F |
| 4BR | $2,130 | $395,856 | 0.54% | F |
| 5BR | $2,471 | $422,725 | 0.58% | F |
U.S. Census Bureau data (2024)
ZIP 13159, located in Tully, NY, within the Cortland County, NY metro area, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for FY 2024 is set at $1,260 for a one-bedroom unit, which is notably higher than the local market rent of $1,104. This positive spread ensures that landlords can rely on consistent, above-market rental income.
The median home value in ZIP 13159 stands at $302,546, indicating a stable housing market where property values are unlikely to fluctuate drastically. This stability further reinforces the role of this ZIP code as a reliable source of steady cash flow, minimizing the risk of vacancy and ensuring predictable income streams for investors.
While the ZIP does not offer significant opportunities for price cuts or quick sales due to its N/A% price-cut share and N/A-day Days on Market (DOM), it excels as a cash-flow anchor. The 13.5% renter share suggests a moderate demand for rentals, while the median income of $101,250 supports the ability of residents to meet their rental obligations. However, these factors alone do not make ZIP 13159 a strong candidate for appreciation plays or diversification within a portfolio.
In conclusion, ZIP 13159 is best suited as a cash-flow anchor in a Section 8 portfolio strategy, given its favorable FMR-to-market rent ratio and stable median home value. Landlords and small-portfolio investors should prioritize this ZIP for its reliable and consistent rental income, making it a solid foundation for their investment strategy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.