Location: Cayuga County, NY | Metro: Cayuga County, NY
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 | $1,000 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $217,234 | 0.57% | F |
| 3BR | $1,630 | $259,936 | 0.63% | D |
| 4BR | $1,880 | $271,049 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 13160, located in Cayuga, NY, presents a unique scenario when classified on the axes of yield and stability. On the yield axis, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,280, while the market rent stands at $1,089. This indicates that there is a significant gap between the FMR and the actual market rent, suggesting a potential for higher yields when properties are rented out under the Section 8 program. The median home value of $241,718 provides a baseline for investment costs, but the disparity between FMR and market rents means that landlords can potentially achieve higher rental income per unit compared to what they might get in the open market.
Moving to the stability axis, the data reveals that 27.3% of residents are renters, which is a moderate figure. However, the lack of data on the number of days on market (DOM) for rentals suggests that the market may be less volatile in terms of rental turnovers, but this cannot be confirmed without additional information. The average household income of $86,029 is relatively high, which generally implies greater financial stability among tenants, reducing the risk of non-payment or delinquency.
Based on these figures, ZIP 13160 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The higher FMR compared to market rent supports a solid yield, particularly beneficial for those participating in the Section 8 program. However, the moderate percentage of renters and the absence of data indicating frequent rental turnovers suggest a stable tenant base. Additionally, the higher average income points to a lower risk of delinquency, making it a safer bet for long-term investments. While the yield is favorable, the stability factors indicate a market where quick flips may not be as advantageous as maintaining a consistent cash flow through steady tenancy.
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.