Location: Delaware County, NY | Metro: Delaware County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The ZIP code 13756 presents an interesting landscape for both renters and landlords. The median income here stands at $71,765, which is a solid figure. However, when considering the market rate for rent, which is set at $1,548 according to the Census ACS data, it becomes evident that affording housing in this area is a challenge for many households. This market rate represents approximately 26% of the median annual income, indicating a significant portion of earnings dedicated to housing costs.
In contrast, the Federal Market Rent (FMR) standard for the metro area in fiscal year 2026 is set at $1,120. This amount is considerably lower than the market rate, making it a more affordable option for those receiving rental assistance through vouchers. The difference between the FMR and the market rate highlights a substantial affordability gap for renters without subsidies, who would need to find ways to cover the additional $428 per month to meet the local market demand.
Given that only 15.9% of the 697 residents are renters, the competition among landlords is likely to be intense. Landlords must consider the balance between accepting voucher tenants, who bring in a guaranteed, though lower, rent, and pursuing cash-paying tenants who might offer higher rents but come with the risk of vacancy due to the high cost of living.
The takeaway for landlords is clear: while there is a strong incentive to seek out cash-paying tenants willing to pay the market rate, the reality of the affordability gap means that they should also be prepared to accept voucher tenants. This strategy ensures steady occupancy and income, even if it means accepting a lower rent payment. In a market where the majority of potential renters struggle to afford the going rate, being flexible and open to voucher programs can be a competitive advantage.
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.