Location: Otsego County, NY | Metro: Otsego 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 | $770 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $155,188 | 0.72% | D |
| 3BR | $1,330 | $199,001 | 0.67% | D |
| 4BR | $1,470 | $229,531 | 0.64% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 13808 in Morris, NY, is set at $1,070 for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 vouchers, which is the amount the government will pay toward your tenant's rent. It does not mean you can charge $1,070 as rent; rather, it's the maximum subsidy amount.
In comparison, the average rent in Morris, NY, based on Census ACS data, is $747. This means that the Section 8 voucher payment is higher than the typical market rate, potentially providing a financial advantage for landlords who participate.
About 19.0% of the population in Morris, NY, are renters. This indicates a moderate demand for rental properties. Given the FMR is higher than the average rent, landlords might find a steady stream of tenants interested in Section 8 housing, especially if they offer well-maintained units.
The median home value in Morris, NY, is around $177,281. This figure reflects the general cost of acquiring property in the area. If you're looking to buy a property to rent out under Section 8, this is a good benchmark for understanding the initial investment required.
Before committing to a Section 8 rental, verify that your property meets the Housing Quality Standards (HQS). These standards ensure the unit is safe and habitable. A failure to meet HQS could result in a rejection of your application to participate in the program, even if all other factors seem favorable.
Section 8 rentals can be a reliable source of income for landlords, offering a stable stream of payments from the government. The higher FMR compared to the local average rent suggests a potential to cover maintenance costs and still generate profit. With a moderate renter share, there should be enough demand to fill vacancies promptly. However, compliance with HQS is critical to avoid complications and ensure eligibility.
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.