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 |
|---|---|---|---|---|
| 2BR | $1,260 | $186,056 | 0.68% | D |
| 3BR | $1,530 | $223,659 | 0.68% | D |
| 4BR | $1,670 | $252,352 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 13491, located in West Winfield, NY, has a population of 3,431 residents. Among these, 17.1% are renters, indicating that it is primarily a homeowner-dominated area rather than a renter-heavy ZIP. The median household income stands at $72,917, which provides a benchmark for assessing the financial capacity of potential tenants.
In terms of rental economics, the market rent for the area is $746 per month. This represents approximately 12.2% of the median household income, calculated by dividing the monthly rent by the annual median income and multiplying by 12. While this percentage might seem reasonable, it's essential to consider the Federal Market Rent (FMR) which is set at $1000 for FY 2024. This suggests that the actual market rent is below the FMR threshold, potentially making it easier for tenants to secure housing without relying heavily on Section 8 vouchers.
The lower-than-FMR market rent also implies that landlords in this area could see a mix of tenants, both those who can afford the rent without assistance and those who might use Section 8 vouchers. However, given the relatively low proportion of renters and the fact that the median income is higher than the average rent, the demand for vouchers is likely to be less intense compared to areas with higher rent-to-income ratios.
A landlord in ZIP 13491 should expect a tenant pool that is predominantly made up of individuals who can pay market rent but may still include some voucher holders. These tenants will likely have a good understanding of their budget constraints and the importance of maintaining stable housing. They would be expected to be responsible and financially savvy, fitting well into the community's economic profile.
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.