Section 8 Fair Market Rent (FMR) for ZIP 13489 - 2027

Location: Lewis County, NY | Metro: Utica-Rome, NY MSA

Investment Score for ZIP 13489

N/A

Monthly Rent (2BR)

$1,090

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$920
2 Bedrooms	$1,090
3 Bedrooms	$1,510
4 Bedrooms	$1,710
5 Bedrooms	$1,984
6 Bedrooms	$2,222
7 Bedrooms	$2,400
8 Bedrooms	$2,520

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,510	$229,055	0.66%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

576

Median Household Income

$89,271

Housing Units

292

Renter Percentage

15.9%

Occupancy Rate

77.4%

Renter Occupied

The ZIP code 13489, located in Central New York, is characterized by a stable housing market that offers opportunities for both landlords and small-portfolio investors. The area is known for its blend of suburban living with easy access to urban amenities, making it attractive for various demographics.

The Fair Market Rent (FMR) for ZIP 13489 for fiscal year 2024 is set at $1010. This figure represents the maximum amount that low-income families should pay in rent under the Section 8 program.
The average market rent in the area, according to the Census American Community Survey, stands at $950. This suggests that the rental market is slightly below the FMR threshold, indicating potential for rental properties to attract tenants within the Section 8 bracket.
The median home value in ZIP 13489 is $189,978. This relatively low value can be advantageous for investors looking to acquire properties at a lower cost while still maintaining profitability through rental income.
Renters make up 15.9% of the population in this ZIP code. Although this percentage is not exceptionally high, it indicates a steady demand for rental properties, particularly those that cater to the needs of low-income families.
The median household income in the area is $89,271. This level of income supports a diverse range of renters who could potentially benefit from the Section 8 program, enhancing the pool of prospective tenants.

Synthesizing these points, ZIP 13489 presents a viable investment opportunity for real estate investors interested in Section 8 properties. With the market rent being close to but slightly below the FMR, there is a good chance of finding a balance between affordability and profitability. The lower median home values suggest that purchasing properties here can be more financially feasible compared to other regions. Additionally, the presence of a middle-income demographic ensures a broader base of potential tenants, reducing the risk associated with tenant turnover and default on payments. Overall, this ZIP code offers a stable environment for generating consistent rental income while contributing to the housing needs of low-income families.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.