Location: Delaware County, NY | Metro: Delaware County, NY
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 | $870 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $243,974 | 0.47% | F |
| 3BR | $1,580 | $282,590 | 0.56% | F |
| 4BR | $1,620 | $321,407 | 0.5% | F |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 properties in ZIP code 13753, located in Delhi, NY, are significant and must be carefully considered. Tenant turnover is a primary concern, with market rents at $911 falling well below the Fair Market Rent (FMR) of $1,220 for the fiscal year 2026, which is based on the metro area. This discrepancy suggests that tenants may seek higher-rent properties outside of the program, leading to increased turnover rates.
Vacancy exposure is another critical issue. The average days on market (DOM) is not available, indicating a lack of historical data on how quickly rental units are filled in this area. This uncertainty can result in prolonged periods of vacancy, causing financial strain on the property owner. Additionally, the typical home value in the area is $274,509, while the median income stands at $70,000. These figures imply that many residents might struggle to afford necessary maintenance and repairs, leading to deferred maintenance issues that could escalate into costly problems if not addressed promptly.
Despite these challenges, there are factors that mitigate the risks. The renter share in Delhi, NY, is 29.8%, which is notably high. High renter density often correlates with greater demand for housing vouchers, potentially stabilizing occupancy rates and reducing vacancy exposure. Landlords in this area should anticipate a steady stream of Section 8 applicants due to the concentration of renters.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 13753 is moderate. While there are substantial risks associated with tenant turnover and vacancy exposure, the high renter density provides a counterbalance, ensuring a consistent pool of potential tenants.
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.