Location: Otsego 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 | $900 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,530 | $223,118 | 0.69% | D |
U.S. Census Bureau data (2024)
ZIP code 13485, located within Otsego County, NY, presents an interesting case when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 13485 is set at $1000 for fiscal year 2024, closely matching the market rent figure of $993. This indicates that the rental rates are in line with what the government deems fair for the area.
The median home value in ZIP 13485 stands at $192,321, which is likely to be representative of the broader county's housing market. However, the renter share in this ZIP is 14.3%, which is slightly above the national average but may be typical or below average for Otsego County depending on its overall demographic makeup.
Based on the provided figures, ZIP 13485 can be characterized as a mid-tier neighborhood within its metro. The FMR and market rent being nearly identical suggests that the rental market is stable and reflects the economic conditions of the area accurately. Additionally, the median home value does not indicate a premium sub-market; rather, it points towards a more affordable housing sector.
The slight divergence in the renter share, being higher than expected for a typical ZIP code in Otsego County, could suggest that there is a decent-sized population of renters who might be eligible for Section 8 assistance. While this alone doesn't make ZIP 13485 a value pocket, it does imply that landlords in this area might find a good balance between rental income and potential Section 8 subsidies without having to deal with significantly lower property values.
To summarize, ZIP 13485 appears to be a balanced mid-tier neighborhood within Otsego County, NY. It offers landlords a stable rental environment with a reasonable number of potential Section 8 tenants, without the drawbacks of lower-than-average property values. This makes it a solid investment choice for those looking to enter or expand their portfolio within this specific market.
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.