Section 8 Fair Market Rent (FMR) for ZIP 13331 - 2027

Investment Score for ZIP 13331

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

When considering whether to purchase a property in ZIP 13331 (Eagle Bay, NY) for Section 8 purposes, follow this decision tree:

1) Does FMR $910 (zip FY 2024) clear debt service on a $399,110 property?

• No. The Fair Market Rent (FMR) of $910 does not cover the typical debt service costs associated with a property valued at $399,110. Debt service includes mortgage payments, property taxes, insurance, and maintenance. To ensure financial viability, the rental income must meet or exceed these costs. Given that the average monthly mortgage payment alone for a $399,110 property would be significantly higher than $910, this makes it challenging to clear debt service solely based on the FMR.

2) Is market rent above, at, or below FMR?

• It depends. Unfortunately, the market rent data for Eagle Bay, NY is currently not available. Without specific figures, it's impossible to compare market rents against the FMR of $910. However, if market rents are known to be higher than the FMR, then there could be potential for profit beyond what is covered by Section 8 vouchers. If they are lower, then the FMR might represent a premium over what tenants can afford independently, making Section 8 more attractive.

3) Are 3.9% renters + N/A-day DOM enough demand?

• No. The percentage of renters in Eagle Bay, NY stands at 3.9%, which is quite low. Additionally, the Days on Market (DOM) data is not available, indicating either a lack of recent sales activity or insufficient data to make an informed decision about demand. A low renter population suggests limited demand for rental properties, which is further compounded by the absence of DOM data. This combination makes it difficult to justify purchasing a property primarily for Section 8 tenants.

In conclusion, ZIP 13331 presents challenges for landlords looking to invest in Section 8 properties due to the inability of the FMR to cover debt service on a $399,110 property and the low percentage of renters. The lack of market rent and DOM data adds uncertainty to the investment decision. Landlords should consider these factors carefully before proceeding with a purchase in Eagle Bay, NY.

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.