Section 8 Fair Market Rent (FMR) for ZIP 13211 - 2027

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

Investment Score for ZIP 13211

Monthly Rent (2BR)

$1,610

Median Price (2BR)

$178,976

1% Rule

0.9%

Annual Yield

10.79%

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	$1,130
1 Bedroom	$1,290
2 Bedrooms	$1,610
3 Bedrooms	$1,950
4 Bedrooms	$2,120
5 Bedrooms	$2,459
6 Bedrooms	$2,754
7 Bedrooms	$2,974
8 Bedrooms	$3,123

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,610	$178,976	0.9%	C
3BR	$1,950	$204,703	0.95%	C
4BR	$2,120	$215,129	0.99%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,111

Median Household Income

$66,724

Housing Units

2,622

Renter Percentage

19.2%

Occupancy Rate

97.5%

Renter Occupied

491

The ZIP code 13211 is located in the heart of Syracuse, New York, offering a blend of urban amenities and residential comfort. This area is characterized by its diverse housing stock and proximity to local businesses, educational institutions, and cultural venues, making it an attractive location for both residents and investors.

Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 13211 for fiscal year 2024 is set at $1260. This figure represents the maximum amount that low-income families should pay for housing, ensuring affordability while also setting a benchmark for rental values.
The average market rent for a two-bedroom apartment in the ZIP code stands at $1,163, according to the latest Census American Community Survey (ACS). This indicates that rental prices are slightly below the FMR, suggesting a competitive but fair market for landlords.
The median home value in ZIP 13211 is $183,490. This relatively low median value can be advantageous for investors looking to purchase properties at a lower cost compared to other areas in Syracuse.
Renters make up 19.2% of the housing market in this ZIP code. While the majority of residents own their homes, there is still a significant demand for rental properties, particularly among young professionals and students.
The median income in ZIP 13211 is $66,724. This income level suggests that residents have sufficient financial stability to support rental payments, though it's important to note that the overall economic context of Syracuse plays a role in tenant affordability.

Synthesizing these points, ZIP 13211 presents a balanced investment opportunity for landlords and small-portfolio investors. The market rent is slightly below the FMR, indicating a fair and potentially growing rental market. With a median home value of $183,490, there is room for property appreciation and rental yield improvement. The presence of renters at 19.2% ensures a steady demand for rental units, especially with a median income of $66,724 supporting regular rental payments. However, investors must remain vigilant about the economic conditions affecting Syracuse as a whole, which can influence the local rental market dynamics.

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.