Location: Chenango County, 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 | $1,150 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,570 | $175,390 | 0.9% | C |
| 3BR | $1,960 | $204,671 | 0.96% | C |
| 4BR | $2,120 | $208,269 | 1.02% | B |
U.S. Census Bureau data (2024)
The median income in ZIP code 13332, which encompasses Earlville, NY, stands at $79,737. This figure provides a baseline understanding of the economic capacity of households in the area. The market rate for rent, according to Census ACS data, is $1,194 per month. When comparing this to the median income, it becomes evident that renting at market rates could be challenging for many residents. A household earning the median income would spend approximately 17.5% of their monthly income on rent at the market rate.
The Federal Market Rent (FMR) for ZIP 13332 in fiscal year 2024 is set at $1,040, which is lower than the market rate. This difference highlights an affordability gap for potential renters who rely on housing vouchers. Vouchers can help bridge this gap, making rental properties more accessible to those with limited financial resources.
Given that only 14.9% of the population are renters and the total population is 2,577, the competition among landlords for tenants is likely to be moderate. However, the affordability gap suggests that landlords who accept housing vouchers might have an advantage in securing long-term, stable tenants. The voucher payment standard of $1,040 is still competitive compared to the market rate, especially considering the financial constraints faced by many households.
Takeaway: For landlords and small-portfolio investors in Earlville, NY, accepting housing vouchers can be a strategic decision. It allows them to attract tenants who might otherwise struggle to afford market-rate rents, potentially leading to a more consistent occupancy rate. While the voucher rate is slightly below the market rate, the stability it offers could outweigh the financial difference for many property owners.
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.