Location: Otsego County, NY | Metro: Otsego County, NY
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 | $890 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,530 | $223,934 | 0.68% | D |
U.S. Census Bureau data (2024)
The ZIP code 13315 is not predominantly a renter-heavy area, with only 14.4% of the population renting. This indicates that it is more homeowner-dominated, which can affect the availability and demand for Section 8 housing vouchers. The median household income in this ZIP is $65,921, providing a baseline for assessing affordability.
While specific market rent figures are not provided, we can infer that typical rents in the area are likely to be lower than the median income would suggest. For comparison, the Fair Market Rent (FMR) for the metro area is set at $1,190 per month for FY 2026. Assuming market rents are below this figure, a significant portion of local income would still be allocated to rent, though the exact percentage cannot be calculated without knowing the precise average rent.
In such a setting, landlords should anticipate tenants who are likely to be constrained by budgetary limitations due to the voucher system. These tenants will have their rental payments subsidized up to the FMR level, which means they will seek properties that do not exceed this amount. Given the relatively low percentage of renters and the higher median income compared to the FMR, landlords may find that the competition for Section 8 tenants is moderate, and that these tenants represent a niche but steady segment of the market.
The tenant profile expected in this ZIP would include individuals and families who qualify for housing assistance, typically those earning below 50% of the area median income. Landlords should prepare for tenants who are financially reliant on the voucher program to cover their rent, ensuring that the property meets HUD standards and that the rent is within the allowable limits.
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.