Section 8 Fair Market Rent (FMR) for ZIP 13732 - 2027

Location: Binghamton, NY | Metro: Binghamton, NY MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$900
1 Bedroom	$1,010
2 Bedrooms	$1,290
3 Bedrooms	$1,620
4 Bedrooms	$1,870
5 Bedrooms	$2,169
6 Bedrooms	$2,429
7 Bedrooms	$2,623
8 Bedrooms	$2,754

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,385

Median Household Income

$88,750

Housing Units

3,189

Renter Percentage

13.6%

Occupancy Rate

96.2%

Renter Occupied

417

The zip code 13732, encompassing Apalachin, NY, is a rural area characterized by its serene landscapes and close-knit community. The region offers a unique blend of natural beauty and quiet living, making it attractive to those seeking a peaceful environment. For landlords and small-portfolio investors, understanding the local rental market is crucial for successful property management and investment decisions.

The Fair Market Rent (FMR) for a two-bedroom apartment in Apalachin, NY, for fiscal year 2024 is set at $1170. This figure reflects the government's assessment of what constitutes a fair rent for subsidized housing units, indicating a baseline for rental pricing in the area.
The average market rent for properties in the zip code, according to the Census Bureau's American Community Survey (ACS), stands at $1,044. This suggests that the actual rents charged in the private market are slightly below the FMR, which could be due to the area's low population density and limited demand.
The median home value in Apalachin, NY, is $224,495. This relatively modest valuation makes it accessible for first-time homebuyers and investors looking to enter the market without a substantial capital outlay.
Renters make up 13.6% of the total housing units in the zip code, indicating a smaller rental market compared to owner-occupied homes. However, this percentage still represents a significant number of potential tenants for landlords.
The median household income in the area is $88,750. This income level provides insight into the financial capacity of potential renters and homeowners, suggesting a stable economic base for the local housing market.

In summary, the rental market in Apalachin, NY, is characterized by lower-than-average rents and a smaller share of renters compared to homeowners. With a median home value of $224,495 and median household income of $88,750, the area presents a balanced opportunity for investment. Landlords should focus on offering competitive rents around the $1,044 mark to attract tenants, while also considering the Fair Market Rent benchmark of $1170 for subsidized units. The limited days on market (DOM) data suggest that properties are either quickly rented or that the data is incomplete, indicating a need for careful monitoring of local trends to make informed investment decisions.

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.