Location: Otsego 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 | $980 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $151,321 | 0.81% | C |
| 3BR | $1,630 | $174,662 | 0.93% | C |
| 4BR | $1,770 | $176,052 | 1.01% | B |
U.S. Census Bureau data (2024)
ZIP code 13809, located in Mount Upton, NY within the Otsego County metro area, exhibits characteristics that position it as a value pocket relative to other ZIP codes in the county. The Fair Market Rent (FMR) for the fiscal year 2026 is set at $1,200. However, the actual market rent in ZIP 13809 is significantly lower at $956, indicating a discrepancy where rental properties can be leased below the federally determined fair market rate.
The median home value in ZIP 13809 stands at $157,285, which is notably below the average home value in Otsego County. This suggests that property ownership costs are relatively low compared to the broader county, making it an attractive option for both renters and owners looking for affordable housing.
The renter share in ZIP 13809 is 14.3%, which is higher than the average for Otsego County ZIP codes. This combination of a higher-than-average renter share and below-average home values is indicative of a potential sweet spot for Section 8 landlords and small-portfolio investors. It suggests that there is a significant population of renters who may benefit from federal assistance programs, such as Section 8, which can help stabilize occupancy rates and provide a steady income stream for landlords.
In summary, ZIP 13809 appears to be a value pocket within the Otsego County metro, offering below-market rents and lower home values while maintaining a higher-than-average renter share. These factors collectively make it a promising investment opportunity for those involved in Section 8 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.