Location: Syracuse, NY | Metro: Syracuse, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
1040 is the Fair Market Rent (FMR) for ZIP code 13426 in fiscal year 2024, indicating the maximum amount that can be charged for a Section 8 rental unit. The absence of specific market rent data suggests limited private market activity, making the Section 8 program a significant source of rental income for landlords in this area. With no median home value reported, it's clear that the housing market in 13426 is dominated by rentals rather than homeownership. The lack of data on the percentage of renters and median income implies that detailed socioeconomic analysis is challenging, but the reliance on Section 8 is evident. The undefined days on market (DOM) and price-cut share suggest that rental listings move quickly once they're priced correctly, without the need for extensive negotiation or reduction in asking prices.
1040 is also the cap for one-bedroom units under the Section 8 program, which means landlords must ensure their properties meet quality standards to command this rate. Given the scarcity of market data, landlords should focus on maintaining properties at or below the FMR to attract tenants and comply with HUD regulations. This ZIP code's reliance on Section 8 underscores the importance of understanding and adhering to federal guidelines to avoid unnecessary complications and potential loss of rental income.
1040 is the benchmark for rental pricing in ZIP 13426, making it crucial for landlords to manage costs effectively to maintain profitability. Without competition from higher-priced market rents or a strong homeownership trend, the demand for affordable housing supported by Section 8 is likely to remain steady. Landlords who can provide well-maintained units at or near the FMR will find a stable tenant pool and predictable cash flow.
1040 is the key figure for determining the financial viability of rental investments in 13426. With no available data on market rents or income levels, it's essential to leverage the Section 8 program's predictability. For small-portfolio investors, focusing on meeting the quality and affordability requirements set by the FMR ensures a reliable income stream and minimizes vacancy periods.
1040 is the ceiling for Section 8 rents in 13426, and landlords must operate within this limit. The quick turnover implied by the undefined DOM and price-cut share figures suggests that demand exceeds supply, giving landlords an advantage if they can offer competitive, well-maintained units. In conclusion, the Section 8 program in ZIP 13426 offers a solid investment opportunity for those willing to adhere to its guidelines and deliver quality housing at the established FMR.
Data Sources: FMR data from HUD (2027).
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.