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 | $1,160 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,910 | $148,676 | 1.28% | A |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 13464 presents a unique opportunity for both landlords and small-portfolio investors, given the current median home value of $140,637. This figure, alongside the lack of percentage of listings that have been reduced and the unreported median days on market (DOM), suggests a stable market where pricing power remains firmly in the hands of property owners. The absence of significant reductions in listing prices indicates that sellers are maintaining their asking values, which typically points to a market where demand meets supply effectively, preserving the value of homes.
On the rental side, the Federal Market Rent (FMR) for ZIP 13464 in fiscal year 2024 is set at $1110, while the current market rate, as per the Census American Community Survey (ACS), stands at $838. This gap signals potential for upward pressure on rental rates, aligning them more closely with the FMR. Landlords can leverage this information to adjust their rents accordingly, ensuring they capture the full market value without alienating tenants. However, it's important to note that rental adjustments should be made gradually and responsibly to maintain occupancy levels.
For long-term investors looking to hold properties for extended periods, the setup implied by the data points towards a cautious approach regarding appreciation expectations. Given the stable pricing environment and the limited information on DOM and listing reductions, there isn't a strong case for rapid appreciation. Instead, the focus should be on steady cash flow from rentals, considering the favorable spread between the current market rate and the FMR. Long-term growth in property values is likely to follow broader economic trends and local development activities rather than short-term fluctuations.
In conclusion, the combination of a stable median home value and the positive disparity between FMR and current market rental rates positions ZIP 13464 as a solid investment area for those seeking reliable returns through rental income. While quick capital gains might not be imminent, the potential for gradual alignment of rental rates with the FMR offers a compelling argument for continued investment in the area.
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.