Location: Binghamton, 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 | $770 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,390 | $209,227 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 13802, located in Maine, NY, has a total population of 1,038. Despite the initial provided figure of 729, the latest census data shows a higher number. The percentage of renters is 9.5%, indicating that it is primarily a homeowner-dominated area with a relatively low proportion of renters.
The median household income for ZIP code 13802 is not available, which makes it difficult to directly compare the income levels to the market rent. However, given the significant portion of households earning less than $15,000 annually, there is likely a substantial demand for affordable housing options, including those supported by Section 8 vouchers. The Fair Market Rent (FMR) for the area is set at $1030 for FY 2024, suggesting that typical rents are below this figure. This aligns with the fact that a majority of households have incomes under $15,000, implying that rent could consume a large portion of their income.
In ZIP code 13802, landlords should expect tenants who rely on Section 8 vouchers due to the high concentration of lower-income households. The tenant profile will predominantly consist of individuals and families who require assistance to afford housing. Given the limited availability of rental properties and the significant number of lower-income residents, the demand for Section 8 vouchers is likely to be high, but the supply may be constrained.
To conclude, while the area is not heavily dominated by renters, there is a notable presence of lower-income households that would benefit from Section 8 vouchers. Landlords should prepare for tenants who need financial assistance and ensure their properties meet the necessary standards for voucher acceptance.
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.