Location: Chenango County, NY | Metro: Chenango 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 | $880 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $173,925 | 0.83% | C |
U.S. Census Bureau data (2024)
The ZIP code 13801 encompasses a small, tight-knit neighborhood with a population of 1,545 residents. Only 15.4% of these residents are renters, indicating a predominantly owner-occupied area. The median household income here is strong at $69,375, which suggests a community that is financially stable and capable of supporting various economic activities. However, the median home value stands at $143,055, reflecting a modest property value compared to many other areas.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990. This figure, established by the U.S. Department of Housing and Urban Development (HUD), serves as a benchmark for the rental market in the region. In contrast, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is lower at $900. This discrepancy between the FMR and the market rent presents an opportunity for landlords and investors to align their rental pricing with HUD guidelines while still being competitive in the local market.
Given these metrics, ZIP 13801 is better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters and the modest median home value indicate a limited pool of potential tenants who might benefit from Section 8 vouchers. Moreover, the relatively high median income suggests that many residents could afford market-rate rents without the need for subsidies. For those interested in Section 8 investments, it would be wise to focus on properties that can be managed with minimal intervention, ensuring compliance with HUD standards and leveraging the existing demand for subsidized housing.
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.