Location: Delaware County, 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 | $860 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,690 | $220,693 | 0.77% | D |
U.S. Census Bureau data (2024)
The ZIP code 13783 in Delaware County, NY, presents a favorable environment for Section 8 investors. The HUD Fair Market Rent (FMR) for FY 2024 is set at $1160, which is significantly higher than the market rent of $879 as reported by the Census ACS. This indicates that voucher tenants can cashflow comfortably at the FMR, providing a stable income stream for landlords.
To further analyze the investment potential, consider the median home value of $181,233 in the area. With an FMR of $1160, the rent-to-price ratio is approximately 7.4%, calculated as ($1160 * 12) / $181,233. This suggests that rental properties are undervalued relative to their market value, making them attractive for purchase and lease-back strategies.
Note that the data does not provide specific figures for the median days on market (DOM) or the percentage of homes that experienced price cuts. However, these metrics would be useful in understanding the broader rent-versus-buy dynamics. For instance, if DOM is low and few homes have been discounted, it could indicate a strong local economy and high demand for both rentals and homeownership.
The strongest angle for Section 8 investors in ZIP 13783 is likely cashflow, given the substantial gap between HUD's FMR and the actual market rent. This allows landlords to generate positive cashflow while also benefiting from potentially undervalued property prices.
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.