Location: Binghamton, NY | Metro: Binghamton, 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 | $1,010 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $167,069 | 0.77% | D |
| 3BR | $1,610 | $207,368 | 0.78% | D |
| 4BR | $1,860 | $249,509 | 0.75% | D |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP Code 13734 in Barton, NY, centers around the significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for FY 2024 is set at $1,180, while the market rent for a 3+ bedroom property is typically $750 - $999/month, according to recent data.
This means the FMR is $221 to $431 higher than the market rent, representing a 29.5% to 61.5% premium. This gap makes ZIP 13734 a favorable area for landlords and small-portfolio investors who can leverage Section 8 vouchers to secure steady, government-backed rental income. The premium above market rates translates directly into higher yields, making it an attractive investment strategy.
Barton, NY, has a low 3.3% rental rate, indicating a predominantly owner-occupied community. The median home value stands at $186,077, which is considerably lower than the national average. With a median household income of $63,523, the disparity between FMR and market rent highlights the economic realities of the area, where many residents might struggle to afford market-rate rents without assistance.
In conclusion, the premium associated with FMR in ZIP 13734 makes it a strategic choice for investors looking to maximize returns through Section 8 vouchers. The economic context of Barton, NY, further underscores the importance of such programs in ensuring affordable housing options for residents.
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.