Section 8 Fair Market Rent (FMR) for ZIP 13804 - 2027

Location: Delaware County, NY | Metro: Delaware County, NY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$970
1 Bedroom	$1,110
2 Bedrooms	$1,320
3 Bedrooms	$1,830
4 Bedrooms	$1,870
5 Bedrooms	$2,169
6 Bedrooms	$2,429
7 Bedrooms	$2,623
8 Bedrooms	$2,754

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

244

Median Household Income

$45,000

Housing Units

208

Renter Percentage

23.2%

Occupancy Rate

53.8%

Renter Occupied

When considering whether to purchase a property in ZIP code 13804 for Section 8 investment, follow this decision tree:

1) Does the Fair Market Rent (FMR) of $1,360 cover the debt service on a $193,017 property?

If the annual debt service on your $193,017 property is less than $16,320 ($1,360 x 12), then the answer is yes. The FMR clears the debt service, making the investment viable from a cash flow perspective.

If the annual debt service exceeds $16,320, the answer is no. The FMR does not sufficiently cover the cost of servicing the debt, indicating that the investment would likely result in negative cash flow.

2) How does the market rent of $1,125 compare to the FMR of $1,360?

If the market rent is below the FMR, you can expect Section 8 tenants to be willing to pay the higher rate, thus the answer is yes.
If the market rent is equal to the FMR, the answer is it depends. You will need to assess the local competition and demand for affordable housing to determine if the higher rent will be accepted.
If the market rent is above the FMR, the answer is no. Tenants are already paying more than what the government considers fair, reducing the likelihood of Section 8 participation.

3) Is there sufficient demand with 23.2% of residents renting and an unknown number of days on the market (DOM)?

The rental rate of 23.2% suggests a moderate level of demand. However, without specific Days on Market data, it's challenging to make a definitive assessment. If comparable rental properties in the area typically spend fewer than 30 days on the market, the answer is yes. There is enough demand to support a Section 8 investment.

If the DOM is significantly longer, the answer is no. A high DOM indicates low demand, which could make it difficult to find tenants willing to participate in the Section 8 program.

In summary, if the debt service is covered by the FMR, the market rent is below the FMR, and there is moderate demand with a reasonable DOM, the answer is yes. Purchase a property in ZIP 13804 for Section 8 investment. Otherwise, the decision hinges on additional factors or is outright not recommended based on the available data.

Data Sources: FMR data from HUD (2027). 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.