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 | $1,040 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,500 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,500 | $259,900 | 0.58% | F |
| 3BR | $2,080 | $310,637 | 0.67% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 13757, which encompasses East Meredith, NY, in Delaware County, are straightforward. The SAFMR (Section 8 Area FMR) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $1,250. This figure represents the maximum amount that the federal government will reimburse landlords under the Section 8 program for a unit of this size.
In contrast, the local market rent for a two-bedroom apartment, based on Census ACS data, is $1,319. This indicates that the market rent slightly exceeds the SAFMR, leaving landlords with a potential reimbursement gap if they choose to participate in the Section 8 program.
A landlord who accepts a Section 8 voucher should understand how the payment structure works. The total rent charged to the tenant and the government must not exceed the SAFMR of $1,250. Tenants typically contribute a portion of their income towards rent, which is usually 30% of their adjusted monthly income. For example, if a tenant's adjusted monthly income is $1,000, they would pay $300 towards rent. The remaining balance up to the SAFMR would be covered by the Section 8 program.
Additionally, the Section 8 program includes utility allowances. These allowances vary but can range from $200 to $300 per month depending on the specific circumstances and needs of the tenant. This allowance is intended to cover costs such as electricity, gas, water, and sewer. It is important to note that these utility allowances do not increase the overall reimbursement beyond the SAFMR; they are separate payments made directly to the tenant.
To illustrate, if the tenant contributes $300 towards rent and the utility allowance is $250, the total contribution from the tenant and the utility allowance is $550. Therefore, the Section 8 program would cover the remaining $700 to reach the SAFMR of $1,250.
Given that the local market rent is $1,319, there is a reimbursement gap of $69 per month between the market rent and the SAFMR. This means that landlords accepting Section 8 vouchers for a two-bedroom unit in ZIP 13757 will receive less than the market rent by this amount.
For landlords and small-portfolio investors, it is crucial to weigh the benefits of stable rental income and reduced vacancy rates against the reimbursement gap. While the gap exists, the stability provided by the Section 8 program can outweigh the financial shortfall for many property owners.
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.