Section 8 Fair Market Rent (FMR) for ZIP 13302 - 2027

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

Investment Score for ZIP 13302

Monthly Rent (2BR)

$1,390

Median Price (2BR)

$176,242

1% Rule

0.79%

Annual Yield

9.46%

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	$980
1 Bedroom	$1,110
2 Bedrooms	$1,390
3 Bedrooms	$1,680
4 Bedrooms	$1,830
5 Bedrooms	$2,123
6 Bedrooms	$2,378
7 Bedrooms	$2,568
8 Bedrooms	$2,696

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	$1,390	$176,242	0.79%	D
3BR	$1,680	$212,795	0.79%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,289

Median Household Income

$55,341

Housing Units

994

Renter Percentage

20.4%

Occupancy Rate

58.2%

Renter Occupied

118

The Altmar, NY area, encompassed within ZIP code 13302, is a small rural community situated in Lewis County. Known for its serene landscapes and close-knit community, Altmar offers a unique investment opportunity for landlords and small-portfolio investors looking to enter a stable, yet growing rental market. This analysis provides key insights into the rental dynamics, home values, and economic conditions of Altmar, highlighting the potential for profitable real estate investments.

The Fair Market Rent (FMR) for a two-bedroom apartment in Altmar for fiscal year 2024 is set at $1,180. This figure represents the benchmark price that landlords can charge to be considered affordable for low-income families.
The actual market rent for properties in Altmar, according to recent Census American Community Survey (ACS) data, stands at $925. This indicates that there is room for rental price increases to align with the FMR, potentially boosting revenue for landlords.
The median home value in Altmar is $172,149, which is relatively low compared to larger urban areas. This makes property acquisition accessible for small-portfolio investors with moderate budgets.
Renters make up 20.4% of the housing market in Altmar. While this percentage is not exceptionally high, it suggests a steady demand for rental properties, especially given the low median home value.
The median household income in Altmar is $55,341. This figure is crucial for understanding the purchasing power of residents and their ability to afford higher rents, making it a viable consideration for setting rental prices.
Unfortunately, the exact number of days on market (DOM) for rental listings is not available. However, the low median home value and steady renter share imply that rental properties can find tenants relatively quickly in this area.

Synthesizing these points, Altmar presents a balanced market for real estate investment. With the potential to increase rents towards the FMR, landlords can expect improved cash flows. The low median home value supports easy entry for investors, while the modest median income and steady renter population ensure a reliable tenant pool. Despite the lack of specific DOM data, the overall indicators suggest a stable and promising investment environment for those willing to invest in this rural New York community.

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.