Location: Cortland County, NY | Metro: Cortland County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 13784, located in Cortland County, New York, reveals a favorable environment for rental properties. The HUD Fair Market Rent (FMR) for the area is set at $1,500 per month for fiscal year 2026, which is significantly higher than the average market rent reported by the Census Bureau's American Community Survey (ACS) at $1,093. This difference means that voucher tenants can cashflow at the FMR level, providing a substantial buffer for landlords.
To further analyze the investment potential, the median home value in ZIP 13784 stands at $157,120. Using this figure, we can calculate a rent-to-price ratio, which indicates the financial feasibility of owning versus renting. The monthly rent of $1,500 equates to an annual rent of $18,000. Dividing this by the median home value yields a rent-to-price ratio of approximately 11.45%, suggesting that rental income could be competitive with the cost of homeownership.
While the data does not provide specific figures for the median days on market (DOM) or the percentage of homes that required price cuts, these metrics typically do not have a significant impact on the decision between renting and buying in areas where rental income is strong relative to property values. The lack of such data points does not detract from the overall positive outlook for rental investments in ZIP 13784.
The strongest angle for investors in this market is cashflow. With the HUD FMR exceeding the market rent, landlords can expect steady and reliable income from voucher tenants, making it an attractive option for those seeking consistent returns on their investment.
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.