Section 8 Fair Market Rent (FMR) for ZIP 13794 - 2027

FY 2027 Fair Market Rent Rates

Incorporating ZIP 13794 (Killawog, NY) into a Section 8 portfolio strategy is advisable as a cash-flow anchor. The Fair Market Rent (FMR) for FY 2024 is set at $1140, which serves as a benchmark for rental income. Although specific market data such as median home value and median income are not provided for ZIP 13794, the broader context from neighboring ZIP codes suggests that the area is part of the Binghamton, NY MSA metro region, where median home values and incomes are generally lower compared to larger metropolitan areas.

The stability of Section 8 rental income, pegged at $1140, provides a consistent and predictable revenue stream. Given the limited data available, the lack of significant market volatility or rapid appreciation makes it less suitable as an appreciation play. Similarly, the absence of detailed renter share and median income figures prevents a definitive assessment as a diversifier. Therefore, focusing on ZIP 13794 as a cash-flow anchor is the most prudent approach within a Section 8 portfolio strategy.

The FMR of $1140 ensures that landlords can cover their mortgage payments and maintenance costs reliably. This predictability is crucial for managing a portfolio effectively, especially when dealing with government-assisted housing programs. By anchoring a portion of the portfolio in stable markets like ZIP 13794, landlords can mitigate risks associated with volatile real estate markets and ensure steady cash flow.

Data Sources: FMR data from HUD (2027).

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.