Location: Chenango County, NY | Metro: Chenango County, NY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP 13815 (Norwich, NY, Chenango County) reveals a favorable cashflow scenario. The HUD Fair Market Rent (FMR) for the area is set at $1,010 for FY 2026, which is notably higher than the market rent of $881 based on Census ACS data. This indicates that voucher tenants will likely cashflow at FMR levels, providing a significant financial advantage for landlords and small-portfolio investors.
To further analyze the investment potential, consider the median home value in ZIP 13815, which stands at $147,265. Using this figure, we can calculate the rent-to-price ratio. With a market rent of $881, the annual rent would be approximately $10,572, resulting in a rent-to-price ratio of about 7.2%. This suggests that rental income represents a healthy percentage of the property's value, making it an attractive option for investors seeking steady cashflow.
The data does not provide a specific median Days on Market (DOM) or the percentage of homes that require a price cut. However, these metrics typically influence the rent-vs-buy dynamics. Given the current trends, there is no indication that significant price adjustments are common, as the price-cut share is noted at 0.2%, suggesting a stable market where properties maintain their value well.
The strongest investor angle in ZIP 13815 is cashflow. The disparity between the HUD FMR and the actual market rent ensures a consistent and positive cashflow for those participating in the Section 8 program. This makes it an ideal location for investors focused on generating reliable income from their rental properties.
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.