Location: Otsego County, NY | Metro: Chenango 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 | $800 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $139,180 | 0.8% | D |
| 3BR | $1,340 | $168,945 | 0.79% | D |
| 4BR | $1,470 | $194,946 | 0.75% | D |
U.S. Census Bureau data (2024)
The ZIP code 13411, encompassing New Berlin, NY, presents a market in flux. With a Fair Market Rent (FMR) of $1,070 for fiscal year 2026, it's clear that the government benchmark is set higher than the current market rent, which stands at $750 according to Census ACS data. This discrepancy suggests that rental prices in the area are below what might be considered fair market value, indicating potential upward pressure on rents.
The median home value of $148,549 reflects a relatively affordable market, which could attract both buyers and renters. However, the lack of data on price-cut share and days on market (DOM) makes it challenging to definitively state whether supply currently exceeds demand or vice versa. In such a scenario, the 23.1% renter share becomes a critical indicator. A lower renter share typically points towards an owner-occupied market, but it also implies that nearly one-quarter of the residents are renters. This figure can signal ongoing housing pressure as the renter population seeks affordable options, potentially leading to increased competition for rental units and driving up rental prices over time.
In markets like New Berlin, NY, where rental prices are below the FMR, landlords and small-portfolio investors must remain vigilant. The dynamics suggest that while the market may be stable now, there is a latent demand for rentals that could manifest as rental prices rise to meet the FMR. Investors should consider the balance between affordability and potential growth when making decisions about property investments or rental pricing strategies in this area.
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.