Section 8 Fair Market Rent (FMR) for ZIP 13164 - 2027

Location: Syracuse, NY | Metro: Syracuse, NY MSA

Investment Score for ZIP 13164

Monthly Rent (2BR)

$1,530

Median Price (2BR)

$227,251

1% Rule

0.67%

Annual Yield

8.08%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,080
1 Bedroom	$1,230
2 Bedrooms	$1,530
3 Bedrooms	$1,850
4 Bedrooms	$2,010
5 Bedrooms	$2,332
6 Bedrooms	$2,612
7 Bedrooms	$2,821
8 Bedrooms	$2,962

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,530	$227,251	0.67%	D
3BR	$1,850	$335,819	0.55%	F
4BR	$2,010	$468,885	0.43%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,904

Median Household Income

$84,808

Housing Units

1,039

Renter Percentage

16.3%

Occupancy Rate

94.7%

Renter Occupied

160

Warners, NY, located in ZIP code 13164, is a small rural community that offers a unique blend of natural beauty and suburban convenience. The area is characterized by its low population density and a mix of residential properties, making it an attractive location for both homeowners and renters.

The Fair Market Rent (FMR) for a two-bedroom apartment in Warners, NY, for fiscal year 2024 is set at $1,200.
The average market rent, according to the Census American Community Survey (ACS), is $1,033 per month, indicating a slightly below average rental price compared to the FMR.
The median home value in Warners, NY, stands at $359,689, reflecting a moderate housing market that is neither excessively expensive nor cheap.
Renters make up 16.3% of the housing stock, which suggests a smaller but significant demand for rental properties.
The median household income in the area is $84,808, providing a stable economic base for both landlords and small-portfolio investors.
The Days on Market (DOM) figure is not available, which could indicate either a very quick or very slow sales process, depending on the local real estate trends.

Analyzing these data points, investors can expect a modest yet steady rental market in Warners, NY. The gap between the market rent and FMR indicates potential for rental growth, while the median home value suggests reasonable property acquisition costs. The lower percentage of renters might limit the size of the rental market, but the strong median income supports the feasibility of rental operations. The absence of DOM data should prompt further investigation into the local real estate dynamics, but overall, the area presents a balanced opportunity for those looking to invest in a stable, rural setting.

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.