Location: Cortland County, 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 | $860 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $168,819 | 0.65% | D |
| 3BR | $1,380 | $212,065 | 0.65% | D |
| 4BR | $1,810 | $240,246 | 0.75% | D |
U.S. Census Bureau data (2024)
194420 The median home value in ZIP 13803, Marathon, NY, stands at $194,420, indicating a relatively affordable market for both homeowners and investors. 20.5 In this area, 20.5% of residents are renters, suggesting a moderate demand for rental properties. 63713 With a median income of $63,713, tenants in Marathon have the financial capability to meet rental obligations. 800 The Census ACS reports a market rent of $800, which is significantly lower than the $1100 Fair Market Rent (FMR) for the zip code in fiscal year 2024. This discrepancy highlights the potential for landlords to either increase rents or offer subsidies to align with the FMR, ensuring compliance with HUD standards.
While specific data on days on market (DOM) and price-cut share are unavailable, the existing figures provide a comprehensive view of the rental market dynamics in Marathon. Investors can leverage the gap between the market rent and FMR to maximize their returns, while also considering the affordability for local residents. 1100 Landlords should be aware that the FMR is set at $1100, which they must adhere to if participating in the Section 8 program.
The investment climate in Marathon, NY, is favorable for those looking to enter the rental market, especially through programs like Section 8. The combination of an affordable median home value, a reasonable renter share, and a median income that supports rental payments makes it a stable environment for property investments. 800 Given the current market rent is $800, landlords can position themselves competitively while aiming to reach the FMR level for higher returns.
Investors should consider the local economic conditions and tenant demographics to refine their strategies. The data suggests that Marathon offers a balanced opportunity where rental properties can be both profitable and accessible to tenants.
Section 8 verdict: Marathon, NY, presents a viable opportunity for landlords willing to comply with the FMR guidelines, offering a stable market with room for strategic pricing adjustments.
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.