Location: Otsego County, NY | Metro: Otsego 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 | $990 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,690 | $193,173 | 0.87% | C |
U.S. Census Bureau data (2024)
The analysis of ZIP code 13776 in Otsego County, NY reveals several key points for landlords and small-portfolio investors considering the area.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,390. However, the current market rent as per the Census ACS data stands at $1,219. This indicates that landlords might face challenges in achieving the FMR due to lower market rates, suggesting that the rent math does not fully align with the potential income.
Moving on to the affordability of acquisitions, the median home value in ZIP 13776 is $179,866. Unfortunately, the data on the number of days on market (DOM) and the percentage of homes requiring price cuts is not available. This lack of information makes it difficult to assess the ease or difficulty of acquiring properties at reasonable prices. Nonetheless, the relatively low median home value suggests an opportunity for acquisition at potentially affordable prices.
Lastly, regarding tenant demand, the ZIP code has a total population of 380, with 13.9% of residents being renters. Given the small population size, the rental market is limited, indicating that there might be fewer potential tenants compared to larger areas. This could lead to a competitive market where landlords must offer attractive terms to secure tenants.
Verdict: ZIP 13776 presents a mixed scenario for real estate investment. While the median home value offers a promising entry point for acquisitions, the mismatch between FMR and actual market rents poses a challenge for maximizing rental income. Additionally, the limited tenant pool means that landlords will need to be strategic in attracting and retaining renters. Overall, the area requires careful consideration and possibly a focus on value-add strategies to improve property appeal and rental yields.
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.