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 | $740 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $238,028 | 0.42% | F |
| 3BR | $1,410 | $258,175 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 13788, encompassing Hobart, NY, presents a dynamic rental market with clear implications for both landlords and small-portfolio investors. The Fair Market Rent (FMR) set at $970 for the fiscal year 2026 indicates a rising trend in rental values, suggesting that demand is likely increasing relative to supply. This upward trajectory is further supported by the current market rent figure of $748, derived from the latest Census American Community Survey (ACS) data, which is below the FMR but points towards future growth.
The median home value of $234,998 reflects affordability in the broader housing market, which can influence the rental market. A lower median home value often correlates with a higher percentage of renters, as seen in ZIP 13788 with a 15.7% renter share. This statistic suggests a significant portion of the population is not homeowners, indicating long-term housing pressure due to limited financial capacity to purchase homes. As a result, the rental sector remains vital and potentially lucrative for investors.
The lack of data on price-cut share and days on market (DOM) prevents a direct assessment of the balance between supply and demand. However, given the gap between the current market rent and the FMR, it's reasonable to infer that demand might be slightly outpacing supply. Landlords and investors should prepare for a gradual increase in rental rates, aligning with the FMR target, to remain competitive and profitable in this evolving market.
In conclusion, ZIP 13788 exhibits characteristics of a market in flux, driven by the interplay of rising rents and an affordable median home value. The high renter share signals sustained pressure on the rental market, making it a strategic focus area for real estate investment. For those involved in property management and ownership, understanding these dynamics is crucial for making informed decisions that capitalize on the market's movement.
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.