Location: Otsego County, NY | Metro: Otsego County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 13482 are governed by the SAFMR (Small Area Fair Market Rent) which sets the rental assistance payment standard for the area. For a two-bedroom apartment in ZIP 13482, the SAFMR for fiscal year 2026 is $1,150. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards the rent of a two-bedroom unit in this specific ZIP code.
While the local market rent for the area is not available, it's important to understand how the voucher system works. The voucher pays a portion of the rent based on the SAFMR, but the total reimbursement to the landlord includes both the tenant's contribution and any utility allowances.
The tenant's portion of the rent is typically 30% of their adjusted income. If the tenant's adjusted income is $2,000 per month, they would contribute $600 towards the rent. The remaining amount, up to the SAFMR, is then paid by the government. In the case of ZIP 13482, if the total rent is $1,150, the government would cover the difference between the tenant's contribution and the total rent, which is $550 in this example.
Utility allowances vary by location and can affect the overall reimbursement. These allowances are designed to help cover the costs of electricity, gas, water, and other utilities. However, since specific utility allowance figures for ZIP 13482 are not provided, we cannot factor them into our calculation here.
In ZIP 13482, the typical reimbursement gap or surplus for a two-bedroom voucher is dependent on the actual market rent of the property. Since the market rent is not available, it's impossible to determine if landlords will experience a surplus where the SAFMR exceeds the market rent, or a gap where the market rent is higher than the SAFMR. To accurately assess the situation, landlords should compare the SAFMR of $1,150 to the current market rents for similar properties in the area.
To summarize, in ZIP 13482, landlords participating in the Section 8 program can expect a maximum reimbursement of $1,150 for a two-bedroom apartment, with the exact amount depending on the tenant's income and any applicable utility allowances. The key to understanding the financial impact is to compare this SAFMR to the actual market rent of the property.
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.