Section 8 Fair Market Rent (FMR) for ZIP 13225 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 13225, located in the heart of Syracuse, NY, offers a unique blend of urban living and suburban comfort. This area is characterized by its mix of residential neighborhoods and commercial centers, making it a desirable location for both residents and investors. With the Federal Market Rent (FMR) set at $1150 for the fiscal year 2024, it provides a benchmark for rental properties in the region.

• Federal Market Rent (FMR): The FMR for ZIP 13225 is $1150, indicating the maximum amount that can be charged for a Section 8 voucher in the fiscal year 2024.
• Market Rent: Data on market rent is currently unavailable for ZIP 13225, which makes it difficult to compare actual rents against the FMR.
• Median Home Value: The median home value is also not available, suggesting that there might be limited data on homeownership in this area.
• Renter Share: The percentage of renters in the area is unknown, which could imply either a strong or weak demand for rental housing.
• Days on Market (DOM): Information on the average days a property stays on the market before being rented is not provided, making it challenging to assess the speed of the rental market.
• Median Income: The median income figure for ZIP 13225 is missing, which would have been useful in understanding the financial capacity of potential tenants.

Given the available data, investors should note that while the FMR provides a clear guideline for rental pricing, the lack of other key metrics such as market rent and median home values means there is a significant gap in understanding the broader real estate market dynamics. The unknown percentages for renter share and median income suggest that further research is needed to accurately gauge tenant affordability and market demand. Landlords and small-portfolio investors should focus on acquiring properties that align with the FMR, while keeping an eye out for additional local market insights to make informed decisions.

Data Sources: FMR data from HUD (2027).

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.