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 | $1,110 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,580 | $205,234 | 0.77% | D |
| 3BR | $1,910 | $253,734 | 0.75% | D |
| 4BR | $2,080 | $295,691 | 0.7% | D |
| 5BR | $2,413 | $343,638 | 0.7% | D |
U.S. Census Bureau data (2024)
The ZIP code 13210, located in Syracuse, NY, presents a unique challenge for renters and landlords alike. The median income for households in this area stands at $41,738, while the market rate for rent is pegged at $1,739 per month, known as the ZORI (Zillow Observed Rent Index).
To put this into perspective, let’s consider the financial feasibility for an average renter. A household earning the median income would spend approximately 42% of their monthly earnings on rent at the market rate. This percentage exceeds the recommended guideline of 30%, indicating a significant affordability gap.
Comparatively, the Section 8 voucher payment standard for this ZIP code in fiscal year 2024 is set at $1,180, which is considerably lower than the market rate. This means that a household receiving a Section 8 voucher could allocate only about 28% of their monthly income towards rent, making it a more financially viable option for many residents.
The population of 19,803 in ZIP 13210, with 70.6% being renters, highlights the competitive landscape for landlords. Given the high percentage of renters and the affordability gap, landlords who rely solely on market-rate rents may find themselves competing against a smaller pool of tenants willing and able to pay the higher rates.
The disparity between the market rent ($1,739) and the voucher payment standard ($1,180) suggests that landlords might face a decision between accepting vouchers and potentially having a steadier stream of income or holding out for cash-paying tenants who might be harder to come by. Accepting vouchers ensures a consistent tenant base and income, albeit at a lower rate compared to market rents. However, it also helps in maintaining occupancy levels and supports the local community by providing affordable housing options.
In conclusion, for landlords considering their rental strategy in ZIP 13210, the data clearly shows that there is a substantial portion of the population that cannot afford market-rate rents. Thus, embracing a mix of both voucher and cash-pay strategies could be the most effective approach to ensure steady occupancy and manage risk in a competitive rental market.
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.