Section 8 Fair Market Rent (FMR) for ZIP 13353 - 2027

Location: Hamilton County, NY | Metro: Hamilton County, NY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$980
1 Bedroom	$990
2 Bedrooms	$1,290
3 Bedrooms	$1,550
4 Bedrooms	$1,710
5 Bedrooms	$1,984
6 Bedrooms	$2,222
7 Bedrooms	$2,400
8 Bedrooms	$2,520

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$82,000

Housing Units

281

Renter Percentage

13.2%

Occupancy Rate

13.5%

Renter Occupied

To decide whether you should buy in ZIP code 13353 for Section 8 purposes, follow these steps:

Step 1: Determine if the Fair Market Rent (FMR) of $1,430 can cover the debt service on your potential property. If the property's debt service exceeds this amount, then the answer is No. Proceed only if the FMR meets or surpasses the debt service.
Step 2: Compare the market rent to the FMR. If the market rent is above $1,430, consider the following:
- If the difference is substantial, you might be able to charge a higher rent outside of Section 8, making the investment more flexible. This scenario leans towards a Yes.
- If the market rent is slightly above $1,430, the investment becomes riskier due to limited flexibility outside of Section 8. In this case, the answer is It Depends.
If the market rent is exactly $1,430, the investment is purely reliant on Section 8 tenants. The answer here is It Depends, as you must weigh the risks and benefits of being entirely dependent on government subsidies.
If the market rent is below $1,430, the FMR provides a buffer against market fluctuations, making the investment more stable. This scenario suggests a Yes.

Step 3: Evaluate the demand. With 13.2% of residents renting and an average of N/A days on the market (DOM), you need to determine if there is sufficient tenant interest. If the DOM is low, indicating quick turnover, this supports a Yes. High DOM values suggest lower demand, leading to a No. If DOM is moderate, the decision hinges on other factors such as property condition and location, resulting in a It Depends.

Use these guidelines to make an informed decision based on the specific characteristics of the properties and market conditions in ZIP 13353.

Data Sources: FMR data from HUD (2027). 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.