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 | $900 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,530 | $229,012 | 0.67% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 13310 in fiscal year 2024 is set at $1100. This figure represents the payment standard for Section 8 housing assistance, meaning that if you choose to participate in the program, the Housing Authority will pay up to $1100 per month for a unit in this area. However, it's important to note that this does not represent the total rent you can charge your tenants.
To give you a clearer picture, the median rent for ZIP code 13310, according to the latest Census American Community Survey (ACS), is $795. This means that the FMR is significantly higher than what most renters are currently paying, potentially offering a financial advantage when participating in the Section 8 program.
With a renter share of 38.7%, there is a notable demand for affordable housing in this area. This percentage indicates that nearly 40% of the households in ZIP 13310 are renters, many of whom could benefit from the Section 8 program. The demand for rentals combined with the FMR can help ensure a steady stream of tenants interested in your property.
The median home value in ZIP 13310 is around $202,045. This figure reflects the typical price you might expect to pay for acquiring a property in this area. While the initial investment is significant, the potential for stable income through Section 8 can make it a worthwhile consideration.
Before deciding to take the plunge into Section 8, one crucial step is to verify that your property meets all the necessary requirements. This includes ensuring that the rent you plan to charge is reasonable and competitive, and that the unit passes a quality inspection known as the Housing Quality Standards (HQS) check. This verification process ensures that you comply with the program's standards and can avoid any issues that might arise from non-compliance.
In summary, participating in the Section 8 program with a property in ZIP code 13310 can be a strategic move given the established FMR and the local demand for affordable housing. With proper due diligence on meeting HQS standards, you can secure a reliable source of income while providing much-needed housing support to eligible tenants.
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.