Location: Otsego County, NY | Metro: Otsego County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
In ZIP code 13468, there are several potential issues that could impact a landlord's decision to accept Section 8 tenants. The first concern is tenant turnover. With a market rent of $785 compared to the Federal Market Rent (FMR) of $1,250 for fiscal year 2026, landlords might face higher turnover rates as tenants seek more affordable housing options. This can lead to increased costs associated with finding new tenants and maintaining the property.
Vacancy exposure is another risk factor. Although the data does not provide the number of days on market (DOM), the disparity between the market rent and FMR suggests a potential challenge in filling vacancies quickly. Landlords must be prepared for periods where their properties remain unoccupied, leading to lost rental income.
The deferred-maintenance exposure is significant, given the typical home value of $203,235 and a median income of $62,727. Lower-income residents may struggle to cover maintenance costs, which could result in additional financial burdens for landlords. Ensuring that the property remains in good condition will require careful budgeting and possibly setting aside funds specifically for repairs and maintenance.
However, these risks are tempered by the high proportion of renters in the area, with 34.4% of the population renting their homes. High renter density often correlates with a greater demand for housing vouchers, meaning that landlords could have a steady stream of Section 8 tenants interested in their properties. This can help mitigate some of the risks associated with vacancy and turnover.
Despite the challenges, the overall risk for a first-time Section 8 landlord in ZIP code 13468 is moderate.
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.