Location: Franklin County, NY | Metro: Franklin County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,420 |
| 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)
The ZIP code 13655 is situated in a rural area with a total population of 3,694. This community is characterized by a relatively modest size, making it ideal for those seeking a quieter lifestyle away from the bustle of larger metropolitan areas. Within this population, 32.6% are renters, indicating a significant portion of residents who rely on rental properties for housing. The median household income in the area is $52,309, which suggests a middle-class demographic.
Despite the lack of data on median home values, the economic landscape of the ZIP code can be gauged through its rental market dynamics. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,240, while the current market rent, as per the Census American Community Survey (ACS), stands at $999. This discrepancy between the FMR and the actual market rent highlights an opportunity for landlords and small-portfolio investors to potentially capitalize on the difference, as the government subsidy could cover a higher portion of the rent.
Given these parameters, ZIP 13655 appears to be well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the lower market rent compared to the FMR means that the Section 8 program can provide a steady stream of income with minimal hassle. For value-add buyers, there's potential to renovate and increase rents closer to the FMR, leveraging the government subsidy to attract tenants and improve property values. However, the success of such strategies will depend on the specific condition and location of the properties within the ZIP code.
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.